Programs
Financing + Assistance | Grant = Success
Homebuyer Down Payment Assistance
1st Time Buyer, Housing Choice Voucher, or Returning to Homeownership At HPP CARES Foundation, we believe that homeownership is a fundamental aspect of building a stable future for families, regardless of their backgrounds. Our Downpayment Assistance Program (DPA) aims to make this dream a reality for all. By empowering families to become homeowners, we are fostering an environment where individuals can raise their standards and create a conducive space for achieving their family goals.
Through our DPA program, HPP CARES Foundation brings hope to communities striving to attain the American dream of homeownership. We see ourselves as advocates for strengthening the economic ladder by promoting financial stability through homeownership. By providing down payment assistance, we aim to enhance opportunities and create real pathways to homeownership for families.
Program Highlights
Required being approved for financing with HPP CARES preferred lending partner Rate Sheet
Looking to become qualified complete the following documents.
Must complete Pre Purchase Educational Training
Offered Exclusive by HPP Cares Calendar
Must Complete 1 on 1 Homebuyer Counseling
No silent second mortgage/or second mortgage
Refinance after 6 months ok
Increased in income limits to 140% of the area median income
Nationwide Program
Easy approval process
Not limited to first-time home buyers
True Grant 3.5%/No Repayment/No Recapture
55% DTI or DU Approval from the Participating Lender
Can use Grant for the Down Payment and/or Closing Cost
No liens on title
Borrower must be approved by the participating lender guidelines/overlays and credit score.
ADU Predevelopment Grant
HPP CARES Foundation recognizes the critical need for increased affordable housing within the state. In addition to educating families on accessing affordable housing, we emphasize the utilization of underutilized space to accommodate additional family members or generate rental income, thereby alleviating housing costs.
To further this initiative, HPP CARES Foundation has established a grant fund aimed at supporting property owners in covering pre-development expenses associated with adding additional space through Accessory Dwelling Units (ADUs).
Program Highlights
Must use HPP CARES Preferred Lending Partner Rate Sheet
Looking to become qualified complete the following documents.
Must complete ADU Educational Training
Offered Exclusive by HPP CARES HPP Cares Calendar
Must Complete 1 on 1 ADU Counseling
All proceeds for ADU project must be placed in a construction fund disbursement account to ensure project is completed.
Project Draws not to exceed 4 phases
Must have licensed contractor of subcontractor
Must owner occupy
Must understand the 1099 aspect of the grant money