DOWNPAYMENT &
CLOSING COST LOANS
NEIGHBORWORKS® COMMUNITY PARTNERS
CAN HELP YOU WITH DOWN PAYMENT AND CLOSING COST LOANS*
THAT HELP LOWER YOUR CLOSING COSTS AND MORTGAGE PAYMENT.
Depending on your location and household income, you may qualify for no-interest, deferred-payment conditional loans, and in some cases grants to help you cover the cost of downpayment and closing costs.
Even if you don’t qualify for one of NCP’s downpayment and closing cost grants, NCP’s Comprehensive Homeownership Program provides first time homebuyer loans that help make mortgages affordable, reducing closing costs and monthly payments.
*NCP’ Down Payment and Closing Costs Assistance provides eligible borrowers with up to $20,000** to cover Down Payment and Closing Costs.
**NCP uses Down Payment and Closing Cost as a financial tool to help tailor your home financing package to be as affordable as possible. NCP has provided DPCC in amounts more than $20,000 or less than $20,000 depending on borrower need.
WHAT IS DOWN PAYMENT AND CLOSING COST ASSISTANCE?
• To purchase a home most banks require between 5% to 20% of the purchase price of the home for down payment and 4-5% for Closing Costs.
• Often people struggle to become homeowners because they cannot cover Down Payment and Closing Costs.
• NCP’s Down Payment and Closing Costs Assistance provides eligible borrowers with deferred no- or low-interest, no-payment conditional loans to cover Down Payment and Closing Costs.