What is down payment assistance?
There are thousands of home buyer programs available across the country, and here at Cardinal, we’ve got them in nearly every state. Down payment assistance is exactly what it sounds like: funds given to a borrower to help pay for the down payment and/or closing costs on a home. Down payment assistance comes in different forms and the most popular types are loans with deferred payments, loans paid in parallel of your first mortgage, loans forgiven after a number of years, lender credits, and grants.
How do I qualify for down payment assistance?
To qualify for down payment assistance, you must be a first-time home buyer. A first-time home buyer is defined as someone who hasn’t owned a home in the last three years. Both you and the property that you are applying for must be eligible. Down payment assistance and community lending programs are for owner-occupant buyers only and cannot be used on investment properties.
The boost you need to make home happen.
At Cardinal Financial, we want to help make home happen for families that may feel like the American Dream is out of reach. That’s why we support affordable housing with down payment assistance and community lending programs across the nation. We have lender- and agency-funded programs in nearly every state and are adding more every day.
- For families with low to moderate income
- Expanded eligibility covers a wide range of needs
- Financial aid in the form of full or partial down payment or closing costs
Looking for a specific product not listed above? Give us a call and one of our loan officers will be happy to assist you.
Want to learn more?
Sign up for our newsletter and get relevant content straight to your inbox every month!
*By submitting a request to be contacted, you agree that Cardinal Financial Company, Limited Partnership may contact you at the telephone number or email address you have provided for purposes of fulfilling this inquiry about mortgage financing, even if you previously registered on a corporate, state, or federal Do Not Call registry or requested Cardinal Financial Company, Limited Partnership not send marketing information to you by use of phone, email or text message. You agree Cardinal Financial Company, Limited Partnership may use automated dialing systems and prerecorded voice messaging in connection with calls or texts made to any telephone number provided even if call or text results in a charge by your provider. Consent to receiving autodialed calls or texts is not required as a condition of purchasing any Cardinal Financial Company, Limited Partnership products or services and you may choose to contact a Loan Consultant by calling 1-855-561-4944.