Down Payment Assistance

Chenoa Fund Overview

Chenoa Fund Testimonials

What is DPA Advantage?

DPA Advantage — for which AFR, American Financial Resources, NMLS 2826 is the administrator — is designed to provide down payment assistance in the form of a grant equal to 2% or 3.5% of the purchase price to a wide variety of eligible borrowers. DPA Advantage is offered by a governmental entity and may be used with the FHA 203(b) program.

Key Features

DPA Advantage contains a wide array of options that could meet your borrowers’ needs including, but not limited to:

  • DPA Advantage has two grant options available: a 3.5% grant and a 2% grant
  • May be combined with up to 6% seller concession for closing costs
  • No repayment required
  • No second lien on the property
  • 620 minimum FICO

Who is eligible for DPA Advantage

In addition to helping first-time and moderate-income home buyers, DPA Advantage is available to make life easier for those eligible borrowers who make our lives easier.

This includes borrowers who are current, retired, volunteer, non-paid, or plan to become:

  • First-responders (police officer, firefighter, public safety officer, paramedic, 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
  • Eligible properties located in an underserved census tract (Zip Code Lookup Tool)
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