Arrive Home Program
Are you ready to buy a home but need help with the down payment? If so, check out the Arrive Home Program!
Program Overview
The Arrive Home Program is designed to help underserved communities by providing down payment assistance that will help lead to home ownership and create generational wealth.
They aim to celebrate the cultures of these demographics by fulfilling the American dream of home ownership and turning it into reality.
Who is Eligible?
Everyone is eligible, but underserved populations such as the Latino, African American, Native Americans, and Asian communities are especially supported.
Program Highlights
The Arrive Home Program offers up to 5% DPA and has repayable and forgivable DPA’s:
Repayable DPA
-No income limits
-3.5% or 5% assistance (5% assistance is only offered for repayable assistance)
-Amortized, 10-year term with a fixed interest rate 2% higher than first mortgage
-No subordination for 3 years
-Less out of pocket
Forgivable DPA
-Qualifying income must be less than or equal to 160% of median income
-3.5% assistance
-30-year term with a fixed 0% interest rate. No monthly payments
-No subordination
-Forgiven after 36 on-time 1st payments
-Lower total payment, more in closing costs
Loan Options
Resources