Down Payment Assistance Questions, Answered
The 20 questions buyers ask us most about 100% financing, 1% down grants, and CalHFA — answered in plain English. Our full reference guide covers 500 questions across every program.
Can I really buy a home with $0 down?
Yes — with a first-plus-second combo structure. How $0-down home buying works with FHA combos.
What's the difference between a combo and a 1% down grant?
A combo uses a second lien for the down payment. A 1% down grant gives you 2% free. Compare.
Do I need to be a first-time buyer?
Not for the national 100% combos or 1% down grants. CalHFA requires first-time-buyer status.
Are there income limits?
The 100% combos have no income cap. The 1% down grants cap at 80% AMI. CalHFA uses county limits.
What credit score do I need for 100% financing?
600 minimum on FHA combos (600 AUS-approved, 660 manual). 1% down grants follow conventional underwriting.
Is homebuyer education required?
Yes for the FHA 100% combos and CalHFA — typically an online course before closing.
Can I use down payment assistance on a condo?
Yes on FHA combos if it's an FHA-approved condo. Also eligible: single-family, PUDs, manufactured homes, 2-units.
Which states are covered?
National programs cover most states. Key exclusions: FHA combo not in NY/WA; V1-FAST 100 not in NY; CalHFA is CA-only.
How does the V1-FAST 100 forgivable second work?
The 3.5% second is a 0% deferred note — forgiven over time while the home stays owner-occupied.
What's the catch with V1-FAST 100 Plus and Supreme?
Plus and Supreme seconds carry interest (first-mortgage rate + 2%) amortized over 10 years — and count in your DTI.
How does the 1% Down Grant work?
You put 1% down, the program grants 2% up to $7,000. Conventional, primary 1-unit, income ≤ 80% AMI, max loan $350,000.
How does Community 1% Down work?
1% down from you, 2% grant up to $6,000, on a Freddie Mac Home Possible loan. Income ≤ 80% AMI, eligible census tract.
What is the CalHFA stack?
A CalPLUS first plus MyHome silent second (3.5% FHA / 3% conventional), optional ZIP third for closing costs. Up to 105% CLTV.
Is Dream For All still available?
No — 2026 registration closed. California's open path is CalPLUS + MyHome, optionally with ZIP.
Can assistance cover closing costs too?
Often yes: the FHA combo's second can cover down payment and/or closing costs; CalHFA's ZIP is closing-costs-only.
Can I get cash back at closing from assistance?
Generally no — on V1-FAST 100, the only cash back allowed is your earnest money deposit.
Do I pay mortgage insurance with $0 down?
On FHA combos, yes — FHA mortgage insurance applies. On 1% down conventional grants, MI is charged to the borrower.
What loan amounts are allowed?
FHA combos use conforming limits — 1-unit up to $832,750. 1% Down Grant caps at $350,000. CalHFA follows county limits.
I'm a doctor with student loans — any special option?
For physicians, dentists, residents, NPs, PAs and more: $0 or low down, no PMI, higher limits. 680+ FICO.
Where do I start?
Send the 60-second eligibility form: state, income range, credit estimate. We'll match you to every program that fits.
How does the FHA 100% Combo work?
FHA first at 96.5% plus a second for the 3.5% — full 100% financing on an FHA loan. Requirements and states.
Can I get down payment assistance with an ITIN?
ITIN buyers have paths to low-down-payment homeownership. What's available and what to expect.
I'm self-employed — can I still get down payment assistance?
Self-employed with write-offs? Bank-statement income can pair with DPA structures. How it works.
Do I have to pay back the down payment assistance?
Some seconds are forgivable, some deferred, some repayable. Know which one you're signing.
Can I refinance a home I bought with down payment assistance?
What happens to the second lien when you refinance — payoff, subordination, or forgiveness timing.
Can I really buy a home with $0 down?
Yes — with a first-plus-second combo structure. An FHA first mortgage at 96.5% pairs with a second lien covering the other 3.5%, so borrower cash can be $0. It's two liens closing together, not a single zero-down loan.
What's the difference between a combo and a 1% down grant?
A combo uses a repayable (or forgivable) second lien for the down payment. A 1% down grant program gives you 2% as a true grant — nothing to repay — and you start with 3% equity on a conventional loan.
Do I need to be a first-time buyer?
Not for the national 100% combos (the FHA 100% Combo, V1-FAST 100) or the 1% down grants (1% Down Grant, Community 1% Down). CalHFA in California does require first-time-buyer status.
Are there income limits?
The 100% combos have no income cap. The 1% down grants and CalHFA cap income — grants at 80% of area median income, CalHFA by county limits.
What credit score do I need for 100% financing?
600 minimum on the FHA combos (600 AUS-approved, or 660 on manual underwrite for V1-FAST 100). The 1% down grant programs follow conventional underwriting — confirm your score on your file.
Is homebuyer education required?
Yes for the FHA 100% combos and CalHFA. It's typically an online course you complete before closing.
Can I use down payment assistance on a condo?
On the FHA combos: yes, if it's an FHA-approved condo. Also eligible: single-family, PUDs, double-wide manufactured homes, and 2-units.
Which states are covered?
The national programs cover most states. Notable exclusions: the FHA combo isn't in NY or WA; V1-FAST 100 isn't in NY and its forgivable second isn't allowed in WA; the Community 1% Down grant is zip-code limited; CalHFA is California only.
How does the V1-FAST 100 forgivable second work?
On the base V1-FAST 100, the 3.5% second is a 0% note, deferred — forgiven over time as long as the home stays owner-occupied and no repayment event occurs.
What's the catch with V1-FAST 100 Plus and Supreme?
Their seconds carry interest (first-mortgage rate + 2%) amortized over 10 years, and that payment counts in your debt-to-income ratio. Supreme reaches 101.5% CLTV.
How does 1% Down Grant work?
You put 1% down (up to 2.99% and you still qualify). The program grants 2% up to $7,000. Conventional only, primary 1-unit, income ≤ 80% AMI, max loan $350,000. Mortgage insurance is charged to you.
How does Community 1% Down work?
You put 1% down, the program grants 2% up to $6,000, on a Freddie Mac Home Possible 30-year fixed loan. Income ≤ 80% AMI and the property must be in an eligible census tract — we check your zip code.
What is the CalHFA stack?
A CalPLUS first mortgage (FHA, conventional, VA, or USDA) plus a MyHome silent second (3.5% on FHA, 3% on conventional) for down payment or closing costs — with an optional ZIP third (2–3% for closing costs only) on conventional. Combined CLTV can reach 105%.
Is Dream For All still available?
No — 2026 registration closed. The open California path is CalPLUS + MyHome, optionally with ZIP.
Can assistance cover closing costs too?
Often yes: the FHA combo's second can cover down payment and/or closing costs; CalHFA's ZIP is closing-costs-only; MyHome can go either way.
Can I get cash back at closing from assistance?
Generally no — on V1-FAST 100, for example, the only cash back allowed is your earnest money deposit.
Do I pay mortgage insurance with $0 down?
On FHA combos, yes — FHA mortgage insurance applies. On the 1% down conventional grants, MI is charged to the borrower.
What loan amounts are allowed?
The FHA combos use conforming limits — 1-unit up to $832,750 in the contiguous states. 1% Down Grant caps at $350,000. CalHFA follows county limits.
I'm a doctor with student loans — any special option?
Yes: the medical professional mortgage waives PMI, allows $0 or low down payment with higher loan limits, for active physicians, dentists, residents, fellows, NPs, PAs and more (680+ FICO).
Where do I start?
Send the 60-second eligibility form: your state, income range, and credit estimate. We'll match you to every program above that actually fits — and tell you honestly if none do.
Want the full 500-question guide?
Our complete workbook breaks down every program — the FHA 100% Combo, V1-FAST 100, 1% Down Grant, Community 1% Down, and CalHFA — with guideline links and file scenarios. Ask us for your copy →
See what you qualify for
Tell us where you want to buy and how much you can put down. We'll match you with the assistance programs that fit — 100% combos, 1% down grants, or CalHFA — and walk you through every step.