Low credit? Limited savings? This combo could be your key to homeownership.

For many first-time buyers, the challenge isn’t monthly affordability — it’s saving for the down payment.

One way to navigate this challenge is to explore options like FHA and down payment assistance programs.

👉 But with an FHA loan + Down Payment Assistance (DPA), you can get a flexible, low-rate loan with help covering the upfront costs.

It’s one of the most powerful, accessible ways to get into a home — even if your credit isn’t perfect or your bank account isn’t where you want it to be.

Understanding FHA and down payment assistance can help you make informed decisions.

Here’s how FHA and DPA work together — and how you can qualify.

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✅ Why FHA Loans Are Built for First-Time Buyers

FHA (Federal Housing Administration) loans offer:

• Just 3.5% down
• Flexible credit requirements (580+ in most cases)
• Low interest rates
• Option to use gift funds or DPA programs for down payment and closing costs

FHA loans are government-backed, so lenders can offer easier approvals and more options for buyers with:

• Lower credit
• Higher debt-to-income ratios
• Non-traditional income sources

✅ That’s why so many DPA programs are designed to work with FHA — it’s a natural fit.

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💡 How Down Payment Assistance Works With FHA

The FHA requires 3.5% down — but with DPA, that entire amount (and sometimes your closing costs too) can be:

• Covered by a grant
• Paid with a forgivable second mortgage
• Rolled into your loan with lender-approved DPA programs

Example:

By utilizing FHA and down payment assistance, eligible buyers can enjoy more affordable homeownership.

• $300,000 home = $10,500 down (3.5%)
• You receive $10,500 in DPA
  ✅ Result: You bring $0 out of pocket to closing (or close to it)

These programs—FHA and down payment assistance—help bridge the gap between saving for a down payment and purchasing a home.

Utilizing FHA and down payment assistance can provide the necessary funds to help you secure your dream home.

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🧠 Can You Still Get a Good Rate?

Yes. FHA loans typically offer:

• Lower rates than most conventional loans
• More leniency on credit
• Stable, fixed-rate options for 30 years

Even when layered with DPA, your rate can still be highly competitive — especially when structured by a lender who understands the programs inside and out (like PRMI).

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Many buyers are now turning to FHA and down payment assistance as a solution to home affordability challenges.

📘 Quick Checklist to Qualify for FHA + DPA

To qualify, most buyers need:

• Credit score of 580+ (some DPA programs may require 620+)
• Verifiable income and job stability
• Debt-to-income (DTI) ratio under 56% (depending on program)
• Intent to live in the home as a primary residence
• Completion of a homebuyer education course (required for most DPA)

Even if you’re not sure where you stand, we’ll walk through it with you step by step.

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🏢 Why PRMI?

We help first-time buyers:

• Qualify for FHA + DPA programs in their area
• Maximize the amount of assistance they receive
• Minimize upfront costs with layered benefits
• Avoid confusing paperwork or delayed closings

We’re not here to give you a pre-approval letter — we’re here to give you a plan that works.

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👇 Want to See How FHA + Down Payment Assistance Can Work for You?

We’ll match your goals to a program that fits your budget — and help you get into a home with less money, less stress, and more support.

Our goal is to make it easier for you to access FHA and down payment assistance programs and achieve your homeownership dreams.

With the right guidance, navigating FHA and down payment assistance can be seamless.

Let us help you understand how FHA and down payment assistance can work for your unique situation.

By leveraging FHA and down payment assistance, you can enhance your chances of securing a home.

We specialize in connecting buyers with FHA and down payment assistance opportunities tailored to their needs.