For many homebuyers, coming up with a down payment or covering closing costs is the biggest hurdle on the path to homeownership. That’s where Supreme Dream Down Payment Assistance (DPA) comes in.
At Supreme Lending, we’re proud to offer two distinct options to meet borrowers where they are financially—whether they’re looking for forgivable support or a low-cost second lien.
Let’s break them down.
Option 1: 3.5% Forgivable Down Payment Assistance
This option provides 3.5% of the purchase price (or FHA Adjusted Value) as a second lien with some powerful borrower-friendly features:
- 0% interest
- No monthly payments
- Fully forgiven after 5 years of consecutive on-time payments on the first mortgage
- Can be used for down payment, closing costs, or to buy down the interest rate
- Minimum FICO: 620
This is a great solution for buyers who need upfront help but want to avoid future repayment obligations.
Option 2: 5% Repayable Down Payment Assistance
If you need a bit more assistance, the 5% repayable option might be the better fit:
- 5% of the purchase price (or FHA Adjusted Value)
- 10-year fixed second lien
- Monthly payments required
- Minimum FICO: 600
This repayable option provides additional funds to help cover more of your upfront costs—giving borrowers greater buying power.
What Both Options Have in Common
- Available with Supreme’s FHA first lien at 96.5% LTV
- DPA can cover down payment, closing costs, or discount points
- No first-time homebuyer requirement
- No income limits
- Available in most states (Forgivable not available in NY; Repayable not available in AR)
Who’s Eligible?
Supreme Dream DPA is available for:
- Primary residences (1–2 units)
- Single-family homes, condos, PUDs
- Manufactured homes (restrictions apply)
- Barndominiums (Repayable only)
From first-time buyers to seasoned homeowners, this program helps more people become homeowners sooner.
Ready to Take the Next Step?
Talk to your local Supreme Lending loan officer today to see which Supreme Dream Down Payment Assistance Option fits your situation. Whether you want the freedom of forgiveness or the flexibility of repayable assistance, Supreme Dream gives you a path to ownership.
Supreme Dream DPA: Two Options. One Goal. Homeownership.