DOWN PAYMENT

ASSISTANCE

Looking to learn more?

Reach out to an Essex Mortgage Professional. 

With a Down Payment Assistance Loan, you pay nothing up front for your loan.

Looking to learn more? Talk to an Essex Mortgage Professional. 

WHAT IS DOWN PAYMENT ASSISTANCE?

A down payment assistance (DPA) loan is the type of product that provides the homebuyer 100% financing and requires 0% down payment (although closing costs are still required). This is achieved through a 1st and 2nd mortgage. Essex’s DPA program can be used to obtain either a conventional loan, or an FHA loan. The amount of the 2nd mortgage is based on which program is chosen: a conventional loan carries a 2nd of up to 5% equal to the lessor of the sales price, or the appraised value, while an FHA loan is 3.5%. The term for both 2nds is 10 years. 

Our DPA program has many advantages over other loans, which makes them an excellent choice for first-time homebuyers and homebuyers with less than perfect credit.

WHY GET AN ESSEX DPA LOAN*?

DPA Loans can benefit borrowers in the following ways:  

  • ZERO down payment.

  • Low mortgage insurance adjustments.
  • No income limitations
  • Lower FICO scores acceptable
  • Competitive interest rate on 2nd

*Not available in state of Washington

2200 W. Orangewood Ave. Ste. 150

Orange, CA 92868

  • Facebook
  • Twitter
  • LinkedIn
  • Yelp
  • YouTube
  • Instagram

Data Mortgage, Inc. is an Equal Housing Lender doing business as Essex Mortgage. All loan programs, terms, and rates are subject to change without notice. Additional terms and conditions may apply. Essex Mortgage is not an agency of, nor is it affiliated with the federal government or any other entity referenced herein, except Essex Mortgage. Essex Mortgage's corporate office is located at 2200 W. Orangewood Ave. Suite 150 Orange, CA 92868 Tel: 714-935-2581; Loans made or arranged pursuant to a California Financing Law license. CA Department of Real Estate License #00936013; CA Department of Financial Protection and Innovation License #603G833, NMLS #70377 . Georgia Residential Mortgage Lender Licensee #23621. AZ #0943121, ME #70377, NV #3487, WA #CL-70377.  For licensing information, go to www.nmlsconsumeraccess.org