Down Payment Assistance Programs
Reduce upfront homebuying costs with grants, assistance programs, and flexible financing options designed to help you get into a home sooner.
As your mortgage loan officer, I focus on helping you understand your options and choose a conventional loan that fits your long-term goals.
Why Homebuyers Work With Me
- Simple explanations in plain language
- Flexible options for many homebuyers
- Personalized guidance from start to finish
- Local insight into our housing market
What Is Down Payment Assistance?
Down payment assistance programs help eligible buyers cover upfront costs like the down payment and closing costs through grants, forgivable loans, or secondary financing.
Who Is It For?
Every situation is unique, but Asset-based loans are often a good fit for homebuyers in the following situations:
- First-time Homebuyers
- Buyers with limited savings
- Moderate-income households
- Borrowers looks to reduce upfront costs
Types of Assistance Programs Available
State-Funded Down Payment Assistance
Many state housing agencies offer grants, forgivable loans, or low-interest assistance programs designed to make homeownership more affordable.
- Assistance for down payment and closing costs
- Often paired with FHA, Conventional, VA, or USDA loans
- Income and purchase price limits may apply
- Available for eligible buyers in Ohio, Kentucky, and other participating states
2% Down Payment Assistance Program
Qualified buyers can receive assistance equal to 2% of the purchase price to help reduce the cash needed at closing.
- Covers up to 2% of the purchase price (Up to $4000-$5250)
- Designed for buyers putting down 3–5%
- Available for first-time homebuyers
- Buyers must be under 80% of Area Median Income (AMI)
Down Payment Assistance Loan FAQs
Do I have to be a first-time homebuyer?
Not always. Some programs are specifically for first-time buyers, while others allow repeat buyers depending on eligibility requirements.
How much assistance can I receive?
The amount varies based on the program, loan type, and your qualifications. Some programs offer a percentage of the purchase price, while others provide fixed-dollar assistance.
Do I have to pay the assistance back?
Some assistance programs are forgivable after a certain period of time, while others may require repayment. We’ll explain the details clearly before you choose a program.
Can assistance be used for closing costs too?
In many cases, yes. Some programs allow funds to be applied toward both down payment and eligible closing costs.
Can I combine down payment assistance with FHA or Conventional loans?
Yes—many assistance programs work alongside FHA, Conventional, VA, and USDA financing.
Ready to Explore Your Down Payment Assistance Loan Options?
Whether you’re planning to purchase soon or just starting to explore, I’m here to answer questions, explain your choices, and help you feel prepared for each step.
Connect in the way that works best for you and move forward when you’re ready.
Cole Loans | Mortgage Solutions & Home Loans 