3.5% HomeStart down payment assistance
HomeStart (formerly Empower DPA) covers your full FHA down payment with a second loan repaid over 10 years.
Minimum credit score of 620+
Credit score requirements must meet FHA and AUS (Automated Underwriting System) guidelines. DTI is evaluated per FHA standards.
No income limits
Pricing adjustments may apply above 160% of Area Median Income
If your details are close to these guidelines, please apply here. If you don’t qualify we may have other solutions for you.
A minimum credit score of 620 is required with Approve/Eligible AUS findings.
Open to both first-time and repeat homebuyers who meet FHA guidelines.
DTI limits are determined by FHA requirements and Approve/Eligible AUS findings.
No income limits apply. Pricing adjustments may apply above 160% of Area Median Income (AMI).
Allowed up to 6% of the home’s purchase price, since it's an FHA loan
HomeStart covers the full 3.5% FHA down payment. You still pay closing costs, which seller credits can help cover.
FHA loans include 1.75% UFMIP (financed) and 0.55% annual MIP for high-LTV loans.
Up to $541,287 in most areas, with higher amounts in high-cost regions.
HomeStart DPA
HomeStart is a second mortgage that covers your 3.5% FHA down payment. You repay it in fixed monthly payments over 10 years, alongside your 30-year FHA loan. It's for home purchases only.
Closing Cost Options
You can combine it with up to 6% seller concessions to help cover closing costs, making homeownership even more affordable.
Flexible Credit Requirements
Qualify for FHA DPA with a minimum 620 FICO score (lowest middle score). Maximum DTI per AUS guidelines. Manual underwriting may be permitted per agency guidelines.
Simple & Predictable
Your first mortgage is a 30-year fixed-rate FHA loan. The HomeStart assistance is a separate 10-year fixed-rate loan with its own monthly payment.
With several options to qualify, you'll more than likely fit the criteria if you're looking for down payment assistance
Complete a 7 part credit application and submit documents to verify income, asset, and employment.
We'll partner with your real-estate agent to ensure a smooth transaction from contract-to-close.
Funds are provided at closing in the form of a repayable second loan.
Check Your Eligibility
Meet credit and occupancy requirements. Homebuyer education may be required based on agency guidelines.
Use Funds Properly
HomeStart funds go toward your 3.5% FHA down payment only.
Live in the Home
The property must be your primary residence, meaning you are required to live in the home as your main place of residence.
Don’t Ignore AMI-Based LLPAs
Your loan may be subject to a Loan-Level Price Adjustment if your household income exceeds 160% of the Area Median Income (AMI)
Don’t Use Funds for Other Expenses
The assistance can't be used for closing costs or anything other than your down payment. Ask the seller to cover closing costs instead.
Don’t Refinance Too Soon
Cannot be subordinated within the first 36 months, which may limit refinancing options during that period.
Compare HomeStart DPA with a standard FHA loan and Home Possible®.
FHA + HomeStart
FHA
Home Possible®
Down Payment
Covered by DPA
3.5% Minimum
3% minimum
Income Limits
No limit (pricing adjusts above 160% of AMI)
No income limit
80% of AMI
Mortgage Insurance
0.55%
0.55%
Varies by credit score
Loan Limits
$541,287
$541,287
$832,750
Everything you need, in one place!
Learn everything you need to know as a first-time homebuyer
You’ve got questions, we’ve got answers
HomeStart provides 3.5% of the purchase price, which covers the full FHA minimum down payment. It can only be used to buy a home, not to refinance.
No. HomeStart covers only your 3.5% down payment. It can't be used for closing costs or renovations. Seller concessions of up to 6% can help cover your closing costs.
HomeStart covers the down payment, but you still pay closing costs, which often run 3–4% of the price. FHA allows seller concessions of up to 6% to help cover them.
HomeStart is a repayable second mortgage. If you sell or refinance, the remaining balance is paid off at closing. It can't be subordinated in the first 36 months, which limits refinancing during that period.
