Have you heard of Down Payment Assistance (DPA)

[Brandon Elliott-Pandey]

I know we are all looking for creatives ways to get into a home and have more units under our belts. That said, if you have a job and a $1,000... why don't we use a DPA program? Using a DPA program mixed with a FHA loan can be a winning strategy for those looking to buy a home, live in it for a year and then rent the property out afterwards!

Here is a story for my most recent buyer! He  just closed on his first $400,000 home in CO, and he paid ONLY $1,000 at closing! Oh, and he is only 20!

He has two roommates that will be paying the mortgage on top of that and had his closing costs completely covered from our teams professional negotiations! 

He literally paid $1,000 at the closing table for a home and had everything else covered! This is typically easier than the other forms of creative financing and happens quite often. 

I'm curious, would you use this strategy in your investing career? 

[Jason Wray]

Brandon,

Great program I try and promote it daily and if more younger people knew about this in advance it would help shape more real estate investors.  Not only that but it helps more people avoid high rents and offer more opportunities down the road to pull cash out of the home once it appreciates.

Typically you have to own without selling or refinancing in certain sates for 2-3 years and some states or programs 1year.  Again its different in each state and for which program you choose but there are over a dozen of these programs.  You can also roll your closing costs into the DPA and the rates are monitored to generally be less than market rates to help more local development.

I have teamed up with many of my realtors for this 2025 year because there are some great New programs with additional benefits for first time buyers.  Getting the word out is the part where it takes a strong team and Bigger pockets is doing a great job so far!