As a real estate agent, one of the most valuable services you can provide to your clients is guiding them towards down payment assistance (DPA) programs. These programs can make the dream of homeownership a reality for many individuals and families who may not have enough saved for a traditional down payment. However, it’s essential to understand the key differences between forgivable and repayable options to ensure your clients make informed decisions.

Forgivable DPA programs offer a unique advantage to borrowers. With these programs, clients can receive assistance towards their down payment with the understanding that they won’t have to repay the funds as long as they meet certain conditions, typically related to occupancy and timely payments. One significant benefit of forgivable DPAs is that they allow borrowers to refinance as soon as interest rates drop, without the obligation to repay the assistance they received. This flexibility can save borrowers thousands of dollars over the life of their loan.

On the other hand, repayable DPA programs, such as those offered by MS Home Corporation, require borrowers to repay the assistance they receive over time. While these programs can still be beneficial, they may not offer the same level of financial flexibility and savings as forgivable options.

At Rubicon Mortgage Group powered by Edge Home Finance, we understand the importance of offering our clients the best possible DPA options. That’s why we provide several forgivable DPA programs designed to help borrowers achieve their homeownership goals without the burden of repayment hanging over their heads. With our forgivable options, clients can take advantage of lower interest rates by refinancing when rates drop, giving them greater control over their finances and future.

If you’re ready to help your clients explore their DPA options and make the best choice for their needs, contact us today. Let’s work together to turn their homeownership dreams into reality while securing their financial future.