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first time homebuyer guide
A step-by-step guide for down payment assistance and grants available through our trusted partner network.
Down payment assistance and grants available
Minimum credit score to qualify.
Get help with your down payment or closing costs.
We carry multiple down payment assistance, grants & $0 down loans.
We offer multiple down payment assistance and grants through our trusted lender partners and organizations.
Up to 5% in down payment assistance funds for first-time homebuyers. Repayable & forgivable options.
Up to 5% in DPA funds for down payment and/or closing costs.
Receive up to 3.5% as a down payment assistance grant forgivable in 6 months.
3.5% forgivable down payment assistance after 36 months of payments.
Eligible Texas homebuyers can receive up to 5% in down payment funds.
Receive up to 2% in grants for down payment, forgivable at closing.
Which one is the better one for you?
|
Program
|
Assistance Amount
|
Credit Score
|
Repayment
|
|---|---|---|---|
|
National Homebuyer Fund
|
2% or 3.5%
|
640
|
Forgivable after 6 months
|
|
Chenoa Fund
|
3.5% or 5%
|
640
|
Forgivable after 36 months
|
|
Orion Aurora
|
3.5% or 5%
|
580+
|
Repayable
|
|
Orion Boost
|
|||
|
Kind National DPA
|
640
|
||
|
Rocket One+
|
❌ Need to 20% to buy a house
❌ Need to be a first-time homebuyer
❌ I won’t qualify with my credit scores
✅ Many buyers purchase with 0-3.5% down.
✅ Thousands of buyers may qualify for DPA.
✅ Our DPA accept as low as 580 scores.
Use our quick questionnaire and see if you qualify.
Use our interactive calculator and calculate your mortgage payments accurately and understand your options.
We compare rates from 40+ lenders to find competitive options that fit your needs. You’ll get expert guidance, personalized solutions, and a partner who works for you.
Down payment assistance (DPA) are programs that help eligible homebuyers cover some or all of their down payment and closing costs. Assistance may come in the form of grants, forgivable loans, or low-interest second mortgages.
Absolutely! Here at Andes Mortgage we offer multiple down payment assistance, grants and state-driven down payment assistance initiatives. Our down payment assistance options can give you anywhere between 2 to 5% of the purchase price for down payment and/or closing costs.
Eligibility requirements vary by program, but factors often include income, credit score, homebuyer status, property location, and occupancy requirements. Many programs are available to both first-time and repeat homebuyers.
Not always. While some programs are designed specifically for first-time buyers, many down payment assistance programs are available to repeat buyers as well. Program guidelines vary by lender and assistance provider.
The amount varies by program. Some down payment assistance and grants that we offer at Andes Mortgage can provide up to $30,000 in funds.
Yes. USDA loans and VA loans offer eligible borrowers the opportunity to purchase a home with no down payment.
Also, At Andes Mortgage we offer different down payment assistance programs and grants that may help cover a portion or all of the required down payment and closing costs.
Some programs provide grants or forgivable loans that do not need to be repaid if certain requirements are met. Other programs offer repayable second mortgages. The repayment terms depend on the specific program.
Yes. A mortgage pre-approval helps you understand your budget, strengthens your offer when purchasing a home, and allows you to identify potential financing issues before you begin shopping.
Yes. Our programs can give you the funds to be used toward both down payment and closing costs.
Credit score requirements vary by program. We have programs that require a minimum of 580 credit scores while others may require at least 640.
Get a personal rate in minutes and explore your best loan options – no impact to your credit.
Book a call and get personalized information.
Skip the wait and get started on your pre-approval asap.