Saving for a down payment while paying rent is genuinely hard. These programs pair a first mortgage with a second that covers your down payment — so you can stop waiting and start buying. No first-time homebuyer requirement on the DPA FHA program. Credit scores from 600.
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Program Structure
Down payment assistance always involves two loans — a first and a second. Here's the structure for each of our three programs side by side.
BFF DPA FHA
CalHFA Conventional
CalHFA Government FHA
The Process
The process is close to a standard FHA or conventional purchase — with one extra step to confirm DPA eligibility and structure the second loan.
We'll ask about your credit score, income, and whether you're in California. This tells us immediately which of the three programs you're eligible for and which produces the best outcome for your situation.
For the DPA FHA program, you'll choose between a repayable second (3.5% or 5%) or a forgivable second (3.5% forgiven at year 3). Your loan officer will show you the monthly payment and long-term cost of each option side by side.
All DPA programs require homebuyer education — typically an online course you can complete in a few hours at no cost. Your loan officer will direct you to an approved provider. Most borrowers complete this in one afternoon.
Pre-approval works the same as any other loan. Sellers don't see whether you're using DPA — your offer comes with a standard pre-approval letter. Most DPA pre-approvals are issued within 24–48 hours.
Both the first and second loans close simultaneously — one signing appointment, one set of closing documents. You receive the keys and the second loan is in place. If you chose the forgivable option, your clock starts from day one.
We'll ask about your credit score, income, and whether you're in California. This tells us immediately which of the three programs you're eligible for and which produces the best outcome for your situation.
For the DPA FHA program, you'll choose between a repayable second (3.5% or 5%) or a forgivable second (3.5% forgiven at year 3). Your loan officer will show you the monthly payment and long-term cost of each option side by side.
All DPA programs require homebuyer education — typically an online course you can complete in a few hours at no cost. Your loan officer will direct you to an approved provider. Most borrowers complete this in one afternoon.
Pre-approval works the same as any other loan. Sellers don't see whether you're using DPA — your offer comes with a standard pre-approval letter. Most DPA pre-approvals are issued within 24–48 hours.
Both the first and second loans close simultaneously — one signing appointment, one set of closing documents. You receive the keys and the second loan is in place. If you chose the forgivable option, your clock starts from day one.
Know Before You Apply
DPA programs have specific eligibility requirements. Here's the honest picture for the most common scenarios.
What Qualifies
What Doesn't Qualify
Who This Is For
Down payment assistance exists because saving for a down payment while paying rent is one of the real barriers to homeownership. These programs are designed for people in exactly that situation.
Long-Term Renters Ready to Buy
You've been paying someone else's mortgage for years. Your income qualifies. The down payment is the only missing piece — and DPA fills that gap.
Families Prioritizing Stability
A stable home matters — for school districts, for kids, for not moving every time a lease ends. DPA can make that stability possible sooner than saving alone would allow.
Income Earners Without Deep Savings
Your income is solid and you can absolutely handle a mortgage payment — but two or three years of dedicated saving for a down payment is a long time to wait when home prices keep moving.
Recent Graduates Starting Careers
Student loans, entry-level income, and rent leave little room for saving. DPA helps buyers who are on the right trajectory but haven't had enough time to build savings yet.
Previous Homeowners Starting Over
Divorce, relocation, or job change put some buyers back to renting — even people who've owned before. The DPA FHA program has no first-time buyer requirement, so prior ownership doesn't disqualify you.
California First-Time Buyers
California's high prices make saving especially difficult. CalHFA programs are specifically designed for this market — with income-limit tiers and loan amounts calibrated for California counties.
The FlexPoint Difference
DPA loans require experience. The second loan, the program layering, the homebuyer education coordination — it's not complicated, but it needs to be done right.
Tell us your state, credit score range, and whether you're a first-time buyer. We'll identify the right program and walk you through the full picture — including monthly payment, down payment requirement, and second loan structure. No credit pull, no pressure.
By submitting this form, you consent to be contacted by FlexPoint Inc. regarding your inquiry. This is not a commitment to lend. All loans subject to credit approval. Restrictions apply. Some products may not be available in all states. FlexPoint Inc. NMLS #243082.
FAQ
The questions homebuyers ask us most before applying for DPA programs.
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