metroDPA: A homeowner may receive assistance up to a percentage of their home loan (first mortgage amount) based upon the loan product (FHA, VA, USDA or conventional). As an example, if a borrower were to purchase a home and their loan amount was $300,000, if they use the FHA loan product and receive 4% of down payment and closing cost assistance, the borrower will receive $12,000 to be used as down payment and closing cost assistance.
The homeowner must use a home loan (first mortgage loan) provided through the metroDPA program.