DPA for short is a common discussion, especially with first time home buyers. DPA is a great tool but we have to make sure it’s the best option for you. When utilizing down payment assistance, we have options for a 3%, 4%, 5% or 6% assistance towards your down payment and funds needed for closing. It’s important to know that DPA is not free. There are costsassociated with these programs and typically you will take a higher interest rate which is set by the DPA companies. If you have the ability to borrower against a retirement account, or get a gift from a family member, those options are typically the better financial decision. Lastly, DPA has credit restrictions, and income restrictions, so not everyone will qualify for the assistance.