DPA Programs Make Owning Easier
You can get into a new townhome for as little as 1% of sales price
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PHOENIX, Dec. 15, 2020 /PRNewswire/ -- Affordable housing just became even more accessible. The new, modern townhomes of [email protected] are already zoned as "workforce housing," making them available to those in lower income brackets. Now, with the addition of two down payment assistance (DPA) programs, the out-of-pocket costs can be reduced dramatically for those who qualify.
The [email protected] townhomes start at $279,000. The minimum down payment for these townhomes is 3.5% of the sales price for FHA loans and 3% of the sales price for conventional loans. Thus, the minimum down payment will be $9,765 and $8,370, respectively. DPA programs are a way for qualified borrowers to get help paying for the down payment and closing costs.