Buying a home just got easier! A new Down Payment Assistance Program (DAP) for FHA loans means that borrowers only need .5% down. The DAP is a second mortgage, up to 3% of the sales price that can be used to meet the minimum down payment requirement and/or for closing costs. The DAP can be coupled with Portland’s MCC First Time Homebuyer Tax Credit. Certain eligibility requirements apply including income and debt limits.
Down Payment Assistance – Buyers Only Need .5% Down
