How DPA Supports National Homeownership Month

Down Payment Resource is celebrating National Homeownership Month in June by highlighting something that too many homebuyers — and even some housing industry professionals — don’t know enough about: down payment assistance (DPA). 

We have been the trusted authority on DPA since 2008, making us the go-to expert in this space. We maintain a robust, constantly updated database of over 2,500 homebuyer assistance programs across the country, and we make this comprehensive resource available for housing professionals and consumers with software tools to search, match, and understand eligibility for a wide range of programs. 

Our tools help buyers access the support they need and enable real estate agents and mortgage lenders to guide clients confidently. On average, these programs can lower a buyer’s LTV by 6%, helping more applicants qualify for a mortgage. 

Simply put, when it comes to making homeownership more attainable, DPR has the data and experience to lead the way. Whether you’re a first-time buyer or someone who’s owned before, DPA might be the key that unlocks the door to your new home.

What Is DPA, Anyway?

First, the basics. DPA programs are resources designed to help buyers cover some of the upfront costs of buying a home, most often the down payment, but also things like closing costs, prepaid expenses, buying down the interest rate and even covering your buyer’s agent commission (67 programs currently allow this use).

That’s right! DPA doesn’t just help with the big chunk of cash needed for a down payment. It can also help make your monthly mortgage more affordable and reduce what you owe over the life of your loan.

Who Really Qualifies? More People Than You Think

Many folks hear “down payment assistance” and assume it’s only for low-income buyers. That’s just not the case. While many programs have income limits, they are often much higher than people expect. Most programs base eligibility on area median income (AMI), meaning you could earn a solid, middle-class income and still qualify.

Plus, you don’t need perfect credit to get approved when it comes to credit scores. Most programs use the identical minimum credit scores that mortgage lenders require. Some are even more flexible, so if your score is close, don’t assume you’re out of the running.

Another common misconception? That DPA only applies to traditional single-family homes. In reality, nearly 1,000 programs support manufactured homes, making it affordable for some buyers to become homeowners. And if you’re dreaming bigger, you’ll be glad to know that more than 800 programs support purchasing multifamily properties. That means you can buy a duplex, triplex or fourplex, live in one unit, and rent out the others to help pay your mortgage while building long-term wealth. Pretty clever, right?

Here’s more good news: Many of these programs offer a lot of other flexibilities:

• 38% of DPA programs are available to repeat buyers. Even when programs require a first-time buyer, that doesn’t always mean what you think. A “first-time homebuyer” is typically defined as someone who hasn’t owned a home in the past three years. So if you owned a home before but sold it more than three years ago, you may still qualify.
  

• 57% of DPA programs are low or zero-interest second mortgage loans, which are typically offered at little to no interest.
  
• 80% of those have deferred payments. This means you don’t make monthly payments and only repay when you sell, refinance, or your loan matures.
  
• 53% offer partial or full forgiveness over time. The loan is forgiven fully or partially if basic requirements are met, like living in the home as a primary residence for a predefined number of years.
  
• 177 programs are grants. You read that right: free money you never have to pay back.

Find Us on Zillow

More and more homebuyers are discovering the benefits of down payment assistance, largely thanks to the efforts of real estate agents, mortgage lenders, and digital platforms like Zillow. 

Since partnering with Zillow in December 2021, Down Payment Resource has helped integrate DPA program information directly into home listings nationwide. This seamless access has made it easier for buyers to explore assistance options while browsing for homes. In the first year alone, over one million unique users searched for their DPA eligibility on Zillow, and an impressive 93% found at least one matching program. 

Fast forward to January 2025, and more than five million home shoppers have connected with Down Payment Resource through Zillow.

Supporting Homeownership

Whether you’re a hopeful homebuyer, a real estate agent or a mortgage lender, one thing is clear: this month is a great time to get familiar with DPA. If you’re a buyer, don’t assume you must wait years to save up a massive down payment. There may be help available right now that can get you into a home sooner and with far less financial pressure. For real estate agents, you’re often the first touchpoint in someone’s homeownership journey. A solid understanding of DPA programs can help your clients navigate affordability challenges and close deals more efficiently. And for lenders, offering guidance on DPA options can strengthen client relationships and expand your reach by helping more buyers who might otherwise feel stuck on the sidelines.

As we celebrate National Homeownership Month, let’s also recognize the progress in making homeownership more accessible. DPA isn’t a niche benefit; it’s a growing, powerful tool that’s changing lives and literally opening doors. 

Down Payment Resource is proud to lead the way in connecting homebuyers to these opportunities.

If you’re a lender, real estate agent, or homebuyer looking to learn more about DPA programs, visit Down Payment Resource to explore options that can help more buyers achieve homeownership.