DPA Advantage: Down Payment Assistance in Ohio

DPA Advantage Down Payment Assistance in Ohio provides a second mortgage equal to 3.5% of the purchase price for an eligible FHA home purchase. This assistance loan charges 0% interest, requires no monthly payments, and is fully forgiven after 36 on-time payments on the first mortgage.

Key Benefits of a DPA Advantage

DPA Advantage is an excellent down payment assistance program in Ohio designed to help first-time homebuyers who may not have the full down payment saved.

Through this program, buyers receive a forgivable second mortgage to cover the 3.5% down payment required for a standard FHA loan (See full FHA down payment rules here), allowing them to pursue homeownership without needing to bring funds for the down payment.

This opens the door to homeownership for individuals who are ready to buy but may not have the resources for upfront costs. As an FHA-backed program, the DPA Advantage down payment assistance in Ohio offers flexible credit and income requirements, making it accessible to a wide range of borrowers. With a minimum credit score of 600 and a debt-to-income ratio of up to 50%, this program is especially suited for buyers who might otherwise find it challenging to qualify.

Although the grant comes with a slightly higher interest rate, it remains competitive and provides a unique path to homeownership with minimal savings required.

Another advantage of the DPA Advantage down payment assistance in Ohio is that there are no income restrictions to qualify. This means that for those just starting out, qualifying is achievable even with moderate income levels.

And because it’s an FHA loan, buyers will also benefit from the federal protection and flexibility FHA loans offer, making it easier to become a homeowner while minimizing financial strain.

With DPA Advantage, the path to owning a home becomes more accessible

For those who qualify, the DPA Advantage down payment assistance in Ohio offers a valuable opportunity to start building equity sooner and move into homeownership with greater confidence. This program gives buyers a way to step into their first home without delay.

Who is DPA Advantage good for?

Special Features of a DPA Advantage Loan

$0 Down Payment Required - 3.5% down payment covered through a forgivable second mortgage.
No Monthly Payment on Assistance – The down payment loan is silent and carries 0% interest
Forgiven After 36 On-Time Payments – No repayment required if you stay in the home for 3 years
Flexible Qualification – Available with credit scores as low as 600 and non-occupant co-borrowers allowed

This loan program is available exclusively for the purchase of owner-occupied 1- or 2-unit properties.

With the DPA Advantage down payment assistance in Ohio, a second mortgage is provided to cover the required 3.5% minimum FHA down payment. This assistance loan accrues 0% interest, has no monthly payments, and is fully forgiven after 36 on-time payments. There is no required minimum period the buyer must hold the property before selling or refinancing; however, if fewer than 36 payments have been made, the second mortgage becomes repayable. This flexibility allows buyers to adapt their plans if life circumstances change. While interest rates for this program are slightly higher than standard FHA rates, the benefits make it an excellent choice for eligible Ohio homebuyers.

Buyers can also negotiate with the seller to cover up to 6% of the purchase price toward prepaid items and closing costs, further reducing out-of-pocket expenses.

At Barrett Financial, we use modern technology to make the entire loan process faster, smoother, and less stressful. Unlike many other lenders, we take a full application upfront — minimizing requests for additional documentation and ensuring a seamless, efficient experience from start to finish.