What could be dirty about down payment assistance?  It helps you buy a house, without having to put all of your money down.  What’s not to like?

The dirty little secret is that 95 out of 100 loan officers have never done a down payment assistance loan.  The loans are more work, require most lenders to be certified and normally pay less than a non down payment assistance loan.

You might say, so what?

The dirty secret about down payment assistance loan is in the third sentence.  95 out of 100 lenders has never done one.  If 95 out of 100 of lenders have never done one, how come 80 out of 100 lenders will tell a buyer that they do not qualify for down payment assistance.  It’s not because they don’t qualify for the help, it’s they don’t qualify because the lender does not know how to qualify them!  So in the lenders eyes, they do not qualify.

We personally believe that 70% of our clients have been told that they did not qualify for down payment assistance by another lender but were able to close with one of our lenders.

Moral of the story is….  Make sure you ask the correct question in writing.  How many down payment assistance loans have you yourself closed in the last year and would you be willing to give me names.

If you have been denied or told that you do not qualify, please reach out to us and find out for sure.