Down Payment Assistance Programs in Georgia & California
Buying a home in Georgia or California is possible even if you don’t have a large down payment saved. At Spot On Lending, we specialize in helping homebuyers access down payment assistance (DPA) programs so you can get into a home sooner and keep more cash in your pocket.
Whether you’re a first-time homebuyer, a teacher, nurse, first responder, military, or simply need help with funds to close, we’ll walk you through your options and help you choose the right program for your situation. We serve homebuyers across Georgia (Atlanta Metro, Marietta, and surrounding areas) and California (Orange County, Laguna Beach, and nearby communities).
There are several down payment assistance programs available. One that we particularly like is DPA Advantage. It’s designed for homebuyers who want to purchase a home but need help covering the required down payment. They give you a special gift called a grant that can be 2% or 3.5% of the price of the house you want to buy. This is only for people who are eligible and want to buy a house with an FHA loan.
What Is Down Payment Assistance?
Down payment assistance programs are designed to help homebuyers cover some or all of their required down payment and, in some cases, closing costs. Assistance can come in the form of:
Grants (no repayment required)
Second liens / silent seconds (paid back when you refinance or sell)
Forgivable loans (forgiven after a certain period if conditions are met)
At Spot On Lending, we work with multiple DPA options and match you to programs based on your credit, income, location, and loan type.
DPA Advantage Grant Program (FHA)
One of our favorite options is the DPA Advantage program. This is a great fit for eligible buyers using an FHA loan who need help with the down payment. These options are especially popular with buyers in Atlanta, Marietta, and the greater Orange County area who want to keep more cash on hand for moving and reserves.
Highlights:
Down payment assistance is in the form of a grant, equal to either 2% or 3.5% of the purchase price
No repayment required
No need for a second lien on the property
Can be used with the FHA 203(b) program or many FHA renovation programs
Seller concessions up to 6% can be applied to all borrower paid closing costs
Minimum qualifying credit score: 600
A simple one-step process with no need for you or the borrower to engage with a third party
Total borrower’s income is equal to or less than 140% of median area income (check income here
First-time home buyers
Borrowers who are current, retired, volunteer, non-paid, or plan
to become:
First-responders (police officer, firefighter, public safety
officer, paramedic, or emergency medical technician (EMT),
including volunteers, or similar),
Educators,
Medical personnel (nurse, doctor, phlebotomist, health
ambassador, or hospital, American Red Cross worker, or
similar),
Civil servant in a federal, state, or local municipality,
Military personnel
If none of the above apply: At minimum, the income and credit must meet FHA total score card or manual underwriting requirement.
0% Down Conventional Purchase Program
Please schedule a consultation to learn more about what we can offer and the programs available to you
Get up to $15,000 in down payment assistance in the form of a second lien
On a $500,000 purchase price – the borrower will need $15K down, this means they only need money or seller concessions for closing costs – it’s THAT simple!
The 2nd lien will get paid off when the loan refinances or gets paid in full
If refi time comes, you may subordinate the 2nd if needed at no cost to the borrower
97% LTV purchase in EQ (95% if not FTHB)
Easy way to know if you qualify?
FIRST TIME HOMBUYERS ONLY:
700 FICO97% LTV
Home One Guidelines
NO AMI LIMIT
ALL HOMEBUYERS:Home possible guidelines
80% OR LESS OF THE AMI
620+ FICO
95% LTV if not a 1st time homebuyer
$15K maximum assistance
Ready to see if you qualify for DPA Advantage?
Schedule a free consultation to see which down payment assistance programs you qualify for in Georgia or California. Call us at 844-545-1665 or text 678-224-9952, or use the form below to schedule your free consultation.
Home Refinance
Purchase Home
Home Equity
Reverse Mortgage
Manufactured Home
About Us
Established in 2018. We have been helping customers afford the home of their dreams for many years and we love what we do.
Spot On Lending is an Equal Housing Opportunity Lender and complies with applicable laws and regulations.
Licensed and Serving Across 4 States:
California NMLS# 02066654 | 60DBO-154093 | Georgia & Texas NMLS#1767407 | Florida NMLS#MBR5826
Serving Across 4 States & Especially These Metro Areas:
California (Orange County, Laguna Beach)
Texas (Dallas Metro Area).
Florida (Tampa Bay Area)
Georgia (Atlanta Metro Area).
Contact Us
Main Office:
California Office:
Disclaimers
Resources
Spot On Lending (“Inc.”), is an Equal Housing Opportunity Lender.
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