01
Open a dedicated 'house fund' high-yield account.
Auto-transfer on paydays. Out of sight, out of spend. 4-5% APY beats checking by 100x. Even $200/mo for 12 months = $2,400+ on closing day.
Pillar III · Assets · DPA honesty
Down payment isn't
always your money.
Conventional 3%. FHA 3.5%. VA + USDA 0%. Plus 57+ Down Payment Assistance programs across our footprint. Most buyers qualify for at least one. The job isn't saving 20% — it's mapping the assistance + closing with reserves intact.
· Five moves
Build the assets.
Stack the assistance.
02
Document the source of every deposit.
Underwriting flags any deposit larger than ~50% of monthly income. Bonuses, side gigs, gifts — all need a paper trail. Sourced funds = clean file. Unsourced = closing delays.
03
Use gift funds with a proper gift letter.
Family gift = legitimate down payment source. Requires a signed gift letter (no repayment expected) and proof the funds came from the giver. Standardized; LO has the template.
04
Map DPA in your zip with a real LO.
57+ programs across our footprint. State + county + city + lender. Most LOs only know 2-3. Find one who knows 20+ — that's where the asset pillar gets multiplied.
05
Don't drain savings to hit the down payment.
Closing with $0 left = financing the next surprise repair at 24% APR. Keep at least 3 months of PITI in reserve at close. Always.
· DPA honesty
Four flavors.
Different rules. Different math.
Forgivable seconds
Most state DPA. You don't pay it back IF you stay X years (typically 5-15). Functions like a grant if you stay. Hits as a loan payoff if you sell early.
Repayable seconds
Some city/county DPA. You pay it back over time, often 0% interest. Less generous than forgivables but still beats 100% out-of-pocket.
True grants
Rare and excellent. No repayment, no strings beyond income/use restrictions. Charlotte's $95K Doorway, Cleveland Heights' $30K, Philly First Home $10K. Worth chasing.
MCC tax credits
Not DPA exactly — federal tax credit on mortgage interest. Up to $2K/year for life of loan. Stack with DPA. Indiana + South Carolina have great ones.
· The pillars connect
Assets compound
into income + credit.
Pillar I — Income
More assets = smaller loan = lower PITI = better DTI. The math compounds across pillars.
Open page →
Pillar II — Credit
Some DPA programs require minimum credit scores (often 640+). Stronger credit unlocks more DPA.
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Three Pillars assessment
See your full asset picture against income + credit. The full diagnostic.
Open page →
DPA isn't free money.
It's strategic financing.
Five minutes. We map your zip against every DPA program in your metro and tell you which ones actually apply to your file.