35% of non homeowners do not have enough money to put towards the down payment on a house
40% are not aware of the down payment requirements required by lenders

30% of homeowners and 30% of renters believe 20% is required down payment and 42% are not aware of any low-down payment mortgage options
63% of Millenials have no money set aside

In August 2021, Freddie Mac’s Housing Price Index showed 19.67% year by year housing price increase putting additional pressure on down payment requirements

Source: Freddie Mac Urban Institute Report Barriers to Accessing Homeownership

Gift, Grant and Affordable Seconds

Myths and Facts


DPA programs are only for first-time homebuyers


Not all programs specify that you must be a first-time homebuyers. 38% of programs do not have a first-time homebuyer requirement.


It’s difficult to qualify for DPA programs.


There are many options and opportunities. There are more than 2,500 DPA programs available. 


DPA Programs make home financing more difficult.


When using a DPA programs, it does require additional paperwork; however, the paperwork is similar to what is already being done on the loan transaction.


DPA Programs cannot be layered.


DPA Programs can be utilized with any other eligible sources of funds that the borrower is utilizing to qualify for the mortgage transaction.


DPA Programs are only for low-cost homes


87% homes are eligible for one or more programs ranging in value from $200, 000 to $700,000 in high-cost markets.


DPA programs are only compatible with FHA Loans


Many DPA programs are compatible with FHA, VA, USDA and conventional loans.



DPA: Combination of Gift/Grant/Affordable Second

Amount: Up to 7% of Purchase Price

Income: Based on County.Reasonably High Limits. 

Credit Score: 620+

DTI: 45% to 50% based on credit

Occupancy: Owner Occupied Homes Only

Units: 1 unit to 4 units

Non Owner Occupant Co signer, OK

Need Not be First Time Home Buyer

Can be a repeat buyer 

Can own one additional property

Maximum Financing

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Copyright ©2023 Shining Star Funding A division of American Pacific Mortgage LLC | NMLS ID # 1850 ( | 6101 Bollinger Canyon Rd #344, San Ramon, CA 94583 Phone (925) 820-2981 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act.

Interactive calculators are self-help tools. Results received from this calculator are designed for comparative and illustrative purposes only, and accuracy is not guaranteed. Shining Star Funding is not responsible for any errors, omissions, or misrepresentations. This calculator does not have the ability to pre-qualify you for any loan program or promotion. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. Shining Star Funding does not guarantee any of the information obtained by this calculator.

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