Over 15 Different Lenders with Down Payment Assistance (DPA)

While we have all our down payment assistance lenders on their category page - click here to view, we thought it was important to break the active down payment assistance lenders from 2022 down in the below blog as it can be nuanced searching for the best program for your borrower.

If you’re brand new to offering down payment assistance, check out our blog out that goes into detail about the different types of assistance, click here to read - Types of Wholesale Down Payment Assistance Available.

Local vs State vs Lender Programs

While the majority of lenders work with local programs (examples include a city or nonprofit offering assistance to a limit group of people), our goal is to share the programs that lenders offer on a broad basis. We also recognize that the majority of state run programs (not all) exclude mortgage brokers and third party originations from their programs. There has been a recent push from the Broker Action Coalition (BACPAC) in order to get equal treatment for brokers. The below list shares programs available throughout most of the US (in no order at all).

List of Lenders with their Own Down Payment Assistance Programs

• Equity Prime Mortgage (EPM) - EPM advertises that they offer an FHA grant (with options for 2% assistance or 3.5% assistance, 3.5% grant has higher rates).
• American Financial Resources (AFR) - Similar to EPM, AFR offers a very similar FHA program. They have an FHA grant (with options for 2% assistance or 3.5% assistance, 3.5% grant has higher rates).
• Loanstream Mortgage - Loanstream offers a program called “MaxOne” - this appears to be a version of Chenoa or National Homebuyer’s Fund where the borrower has a 2nd mortgage. In this case, the 2nd is repayable at 2% higher than note rate over 10 years.
• Orion Lending - offers assistance with both Chenoa and the National Homebuyer Fund. With options for forgivable and repayable 2nds available.
• Bayshore Mortgage Funding - offers assistance with a repayable 2nd mortgage
• Central Bank / First Mortgage Wholesale (TX only)- offer a version conventional down payment assistance
• Click n’ Close, Inc (Mid American Mortgage) - offers a program called ‘Rosebud’ which is available in all states except Delaware offering 2-6% assistance.
• Essex Mortgage (Data Mortgage) - offers a version of Chenoa (repayable 2nds)
• Forward Lending Wholesale - offer a repayable and non-repayable 2nd on FHA loans
• The Lender (meMortgage) - offers assistance via 100% CLTV financing on FHA
• OnQ Financial - offers a version of Chenoa with repayable and forgivable 2nds on FHA
• PRMG - offers a version of Chenoa with repayable and forgivable 2nds on FHA
• TPO Go - offers a version of Chenoa with repayable and forgivable 2nds on FHA
• US Bank - offers down payment assistance to correspondent only lenders
• United Wholesale Mortgage (UWM) - They offer BorrowSmart(SM)’s program that can offer $1250-$2500 for borrowers under Home Possible’s income limits. This is on a conventional / Freddie loan.
• Cardinal Financial - Similar to UWM, they offer BorrowSmart(SM)’s program.
• Arrive Home (correspondent only) - offers a down payment assistance product for a 2nd mortgage (ranging from 3.5% to 5% of the purchase price/appraised value)

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