Down Payment Assistance
Grants and programs to reduce your upfront costs.
Program overview
What is a Down Payment Assitance Program?
Down payment assistance programs help qualified homebuyers cover part or all of their down payment and, in some cases, closing costs. These programs are typically offered through state and local housing agencies, employers, and nonprofit organizations.
At Supreme Lending, we can help you understand which assistance options may work alongside your mortgage program, so you can move into a home with less money out of pocket.
key benefits
Why borrowers use these programs.
Lower Upfront Costs
Reduce the cash you need to close on your new home.
Combine with Many Loans
Often paired with FHA, VA, USDA, and conventional financing.
Grants & Forgivable Loans
Some assistance does not have to be repaid if you stay in the home long enough.
First-Time Buyer Focus
Designed to help buyers who have not owned a home in the past three years.
Local Options
Programs vary by state, county, and city. We help you find what's available.
Faster Path to Ownership
Less time saving means you can buy sooner in the right market.
First-Time Buyer Focus
Designed to help buyers who have not owned a home in the past three years.
Local Options
Programs vary by state, county, and city. We help you find what's available.
Faster Path to Ownership
Less time saving means you can buy sooner in the right market.
Supreme Lending DPA
Programs Available
Supreme Dream
✔ Offers both forgivable and repayable second lien options combined with an FHA first lien.
✔ Forgivable Second Lien: 3.5% DPA in the form of a forgivable second lien, forgiven after 36 months (3 years) of consecutive on-time payments.
✔ Repayable Second Lien: 5% DPA in the form of a fully amortizing second lien, repayable over 10 years. Interest rate is the first lien interest rate +2%
Chenoa Fund
✔ Provides forgivable and repayable second lien options for DPA.
✔ Forgivable Second Lien: Offered as part of a 30-year fixed-rate mortgage, forgiven after a specific period of on-time payments.
✔ Repayable Second Lien: Requires monthly payments and is fully amortizing
Supreme 100
✔ A conventional first lien product with 97% financing combined with a 4% DPA interest-only second lien.
elegibility
Do you Qualify?
Every borrower's situation is unique. Below are typical guidelines. Our loan officers will review your specific scenario and confirm eligibility quickly.
✔ Must be a first-time homebuyer in some programs
✔ Income limits based on household size and area median income
✔ Purchase must be a primary residence
✔ Homebuyer education course may be required
✔ Minimum credit score varies by assistance program and paired loan type
