Loans exceeding conforming limits; stricter credit/reserve requirements. Down Payment Assistance (DPA)
: These are often 0% interest second mortgages that are completely forgiven after living in the home for a set period, typically 5–10 years. do i need a down payment to buy a house
: True grants, such as the Virginia Housing DPA Grant, provide 2%–2.5% of the purchase price that never needs to be repaid. Loans exceeding conforming limits
First-time buyers or income-qualified applicants with good credit. 3.5% typically 5–10 years. : True grants