Ready to buy a home but short on the down payment? The Arrive Home down payment assistance program may help eligible buyers cover part of the down payment and closing costs, with repayable and forgivable DPA options.
The basics
The Arrive Home Program is a down payment assistance (DPA) program designed to help more families achieve homeownership and build generational wealth. It offers repayable and forgivable second mortgage options that may cover part of the down payment and closing costs for qualified borrowers. The program is open to all eligible homebuyers and places a special focus on underserved communities, including Latino, African American, Native American, and Asian American families.
How it works
A licensed loan officer helps you decide whether Arrive Home fits and pairs it with the right first mortgage.
Your loan officer reviews your income, credit and the home you want to buy against Arrive Home guidelines.
Compare the two assistance options and how each affects your monthly payment and cash needed at closing.
The assistance is a second mortgage that's submitted with your first mortgage application for underwriting.
Approved assistance is applied at closing toward your down payment or closing costs, and you move in.
Repayable or forgivable?
How the two Arrive Home options compare, so you can pick the one that fits your budget.
Program terms are set by the program administrator and may change. Subject to eligibility, credit approval and program availability.
Down payment assistance, explained
Down payment assistance (DPA) helps eligible buyers cover upfront costs that often stand between renting and owning. Most programs, including Arrive Home, work the same basic way.
Arrive Home assistance is a second mortgage. It is approved together with an eligible first mortgage, and the funds are applied at closing.
The assistance may cover part of your down payment or closing costs, so you need less of your own savings at the closing table.
A repayable second mortgage adds a monthly payment, while a forgivable option has its own conditions. Compare both with your loan officer before you choose.
Program terms, income limits and availability are set by the program administrator and can change. Your loan officer checks the current guidelines for your loan.
Want to compare other options? See all down payment assistance programs or learn how much down payment you need.
Arrive Home is a down payment assistance (DPA) program that provides a second mortgage to help eligible buyers cover part of their down payment and closing costs. It is paired with a qualifying first mortgage.
Not necessarily. Eligibility depends on the program's current guidelines, such as income limits, credit and the first mortgage you use, so a loan officer should confirm whether you qualify.
No. It is a second mortgage with either a repayable or a forgivable option. Which option fits you depends on your budget and how long you plan to stay in the home.
Arrive Home is designed to work alongside an eligible first mortgage, which may include FHA or conventional loans depending on current program guidelines. Your loan officer checks which first mortgage options are allowed.
The program administrator sets the terms, income limits and availability, and they can change. HomyLoan is a mortgage broker and helps you apply through participating lenders, subject to credit approval and program guidelines.
Start with a pre-approval for your first mortgage and ask your loan officer to check Arrive Home eligibility at the same time. You can apply online or talk with a HomyLoan loan officer to get started.
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