metroDPA: You can get a percentage of the home loan (first mortgage loan) amount for your down payment in the form of an interest-free, 3-year forgivable second mortgage – there are no scheduled payments and you don’t have to pay the assistance loan (second mortgage) back if you stay in the home for three years.
metroDPA Social Equity: If you are eligible and approved for the metroDPA Social Equity program, you may be eligible for $15,000 or $25,000 toward your down payment or closing costs. This benefit is interest-free and does not require repayment. You will also receive metroDPA’s lowest available interest rate for the type of home loan.