Down Payment Assistance
Homeownership may be closer than you think with Down Payment Assistance!
A Down Payment Assistance (DPA) program is a type of financial aid designed to help homebuyers cover the upfront costs of purchasing a home, primarily the down payment and sometimes closing costs. These programs are typically offered by state housing finance agencies, local governments, public assistance efforts or nonprofit organizations.
We offer our customers a Down Payment Resource tool that can match eligible homebuyers with down payment help by providing a customizable search experience that matches them with programs to meet their individual homebuying needs.
Sunflower Bank is committed to helping families in our communities attain affordable housing.
Down Payment Assistance programs help more people achieve homeownership sooner by improving affordability and opening the door to financing options that may have otherwise been out of reach. The DPA program works with first-time homebuyers or individuals and families with low- to moderate-incomes who may struggle to save the lump sum needed to afford a down payment to buy a home. The best first step is simply being prepared. Below are answers to frequently asked questions to help create understanding as you start your journey.
Each of our Mortgage Loan Originators have a custom Down Payment Resource Center page available to help you find DPA options. If you aren't working with a Sunflower Bank mortgage professional yet, don't worry! Visit this Down Payment Resource Center page and you'll be connected to a Sunflower Bank mortgage professional.
Down Payment Assistance Frequently Asked Questions
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Down Payment Assistance programs vary, and many programs do not have a first-time homebuyer requirement. With some programs, buyers regain their first-time status if they meet certain criteria.
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Not at all. Many buyers find that they have options for assistance. Since there are so many programs and opportunities available, it can be hard for buyers to identify the programs that are most applicable to them. Use the free Down Payment Resource Center tool provided by our trusted partner to see what options might be available to you.
Down Payment Resource Center about Is it Hard to Qualify for Down Payment Assistance Programs? -
The type of home varies depending on the Down Payment Assistance program. Sales price limits can range from $200,000 to $900,000 across different programs.
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Down Payment Assistance programs are fiunded though various forms, including federal funding, grants, tax credits, and more.
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While DPA programs are commonly linked to FHA loans, there are additional programs that support other types of loans including VA, USDA, and Conventional. Consult your loan originator for more information.
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While many DPA programs utilize silent seconds, deferred loans, and second mortgages to assist homeowners, almost half of all DPAs are partially or fully forgivable.
Get Started
The number one obstacle for most homebuyers is the down payment, but help is out there. Use our Down Payment Resource Center tool or connect with one of our professional mortgage loan originators to get started on your homeownership journey today! Together, we’ll make your homeownership dreams a reality.
Down Payment Resource (DPR) is a third party and not affiliated with Sunflower Bank. Information collected by DPR is subject to Sunflower Bank’s Privacy Policy and standards. Results issued by DPR do not constitute a credit decision. Consult your MLO for more information.
Consult your mortgage loan originator for details. Certain terms and restrictions apply. Program available only to qualified borrowers. Program subject to change without notice. Underwriting terms and conditions apply. Loan subject to credit review and approval. This is not an offer for extension of credit or a commitment to lend.