FHA Down Payment Assistance
Your down payment, covered!
This home can be bought with an FHA loan plus down payment assistance that covers 3.5% or 5% of the price toward your down payment and closing costs. Most buyers think they need a big pile of savings. You probably need a lot less. Send me the address and I will show you the real number.
Maine and Florida mortgage broker. Started in 2004, still here.
Get your real number
Find out what this house actually takes
Send the address and your cell. I text back fast with what you would really need to buy it and the help you may qualify for. No credit pull to start.
Reframe
The down payment is not the problem.
You have steady income. You are tired of paying off someone else's house every month. The only thing in your way is that savings number, and that is the one thing I can actually fix.
The mechanics
How the FHA down payment assistance works
FHA down payment assistance lets qualified buyers in Maine and Florida buy a home with an FHA loan while an assistance program covers 3.5% or 5% of the purchase price toward the down payment and closing costs. You do not have to be a first time buyer, and on many programs there is no homebuyer class and no monthly payment on the assistance.
- What it covers: a program that puts 3.5% or 5% of the purchase price toward your down payment and closing costs. For a lot of buyers that is most or all of the money it takes to close.
- How it is structured: depending on what you qualify for, the help is a grant you never pay back, or a second loan at 0% with no monthly payment that gets forgiven over time as you stay in the home. You will know exactly which one before you commit.
- You do not have to be a first time buyer. Repeat buyers qualify too.
- No homebuyer class required on the programs I lead with, unlike the state programs that make you sit through one.
- It is for homes you will live in, your primary residence.
- Credit and income guidelines apply and they are more flexible than most people expect. Some programs have income limits, some do not, and I can often work with credit other lenders pass on. Matching you to the right one is what the call is for.
It is not automatic, and not every buyer or house fits every program. Sorting that out is a ten minute call, and it is free.
The two main types
Two different ways this gets set up
Type 1
The Forgivable Type
The help is technically a small second loan on the house. But here's the kicker. As long as you stay in the home and keep your mortgage in place for a set window of time (often around three years), that second loan disappears. Forgiven. Erased. You never pay it back.
It's a gift with one string attached, and the string is just time. Stay put, and the help becomes a real gift.
Type 2
The Repayable Type
The help is also a small second loan, but you pay it back over time. The payment is usually small because the loan amount is small. It runs alongside your main mortgage.
Think of it like splitting one big payment into one big one and one small one. Most buyers barely notice the second piece because it's a fraction of what they're already paying.
Eligibility at a glance
FHA-backed. Primary residence only.
Loan type
FHA financing
Occupancy
Primary residence only — you live there
Credit
640 minimum FICO. Active Chapter 13 OK with 12 months of on-time payments and trustee approval.
Eligible properties
1–2 unit homes and doublewide manufactured homes on a permanent foundation
Not a fit: investment properties, second homes, single-wides, and 3–4 unit buildings.
Which one fits your situation depends on your plans, the home, the loan type, and a few other moving parts. We figure that out together. Program availability and terms vary and may not be available in every state or for every borrower.
Real dollars
What this can look like in real dollars
Compare
Side by side
Standard Path
Bring your own cash
DPA Path
Loan brings the cash
For illustration only. Not a quote, offer, or commitment to lend. Actual numbers depend on home price, your credit profile, income, debts, the property, the loan program selected, and other underwriting factors. APR will be higher than the note rate. We'll run your real numbers before you commit to anything.
The fit check
Is this a fit for you?
This may be worth a real conversation if you are:
- A first time buyer with good income but not a lot saved yet
- A repeat buyer with cash tied up in a current home or other places
- Someone moving between Maine and Florida who wants to buy on arrival
- A renter watching rent climb every year and wondering when the right time is
- A self employed buyer or commission earner who has the means but doesn't show big bank balances
If any of those sound like you, we should probably talk.
Next step
Send me the address. I will tell you what it takes.
Maine ⇄ Florida
Moving between Maine and Florida? This is built for you.
Relocating is messy. You're juggling a current house, a new job, schools, movers, and the stress of finding a place to land before you even arrive. The last thing you need is to wait six months to save a down payment after the move.
DPA can help you buy on your timeline instead of the bank's. I work with families moving north and south every week, and I know the moving parts that catch people off guard. Bridge financing, timing the sale of your current place, Maine quirks like private roads and oil tanks, Florida quirks like flood zones and HOA budgets. We sort it all before the moving truck shows up.
FAQ
Questions I get all the time
About
Why work with me
Started in 2004, and I am still here and update my bio based on research. I'm a Maine to Florida relocation expert, and I have experience with numerous programs, and I'm a true broker, not a lender.
More about Travis