At Simply Approved Mortgages, we believe homeownership should be possible for everyone—even if you have limited savings or a lower credit score. That’s why we offer the DPA Program, a trusted and flexible down payment assistance solution.
Whether you’re a first-time buyer or not, this program helps you cover your down payment and closing costs—with no income restrictions, non-traditional credit options, and fast approval.
✅ Up to 100% Financing – Combine a 1st and 2nd lien to cover home price, down payment, and even closing costs.
✅ Assistance Options – Choose from 2.5%, 3.5%, or 5% assistance based on the lesser of the purchase price or appraised value.
✅ Minimum Credit Score: 580 – Flexible for borrowers with limited credit histories.
✅ Non-Traditional Credit Accepted – Perfect for buyers with limited or no credit profiles.
✅ No Income Cap – Open to buyers at any income level.
✅ No First-Time Homebuyer Requirement – Available to both new and repeat buyers.
✅ Fast & Accurate Approvals – We move quickly and support you every step of the way.
Disclaimer: Advertised rates and fees depend on borrower qualifications and market fluctuations.
✔ 1-Unit Residences
✔ FHA-Approved Condominiums
✔ Planned Unit Developments (PUDs)
✔ 2–4 Unit Properties
✔ Manufactured Homes (Single-wide & Double-wide)
At Simply Approved Mortgages, we operate with a 1.5% fee, significantly below the industry standard. This ensures more savings for borrowers without compromising service quality.
Disclaimer: Simply Approved Mortgages complies with all state and federal licensing requirements that we are licensed in.
1st Lien:
🔹 30-Year Fixed Mortgage
2nd Lien (DPA Assistance):
🔹 10-Year Fixed Term
🔹 Interest rate 2% higher than first mortgage
🔹 Repayable assistance used for down payment and/or closing costs
Our down payment assistance program is here to help your home ownership dreams today!
✔ DTI Limits based on Automated Underwriting System (AUS) or FHA Manual Guidelines
✔ Can be used with FHA-approved properties
✔ Our DPA is designed to support borrowers who may not qualify under traditional programs, which you can view all state and national programs here.
1️⃣ Apply Online with Simply Approved Mortgages – Quick and easy pre-approval process.
2️⃣ Find Out How Much You Qualify For – We’ll help you explore all assistance options available.
3️⃣ Secure Your New Home – With up to 100% financing, you can move forward with confidence and no large upfront cost.
With our industry-leading 1.5% fee, compared to the standard 2.75%, we save you thousands while offering competitive rates tailored to your needs. Learn More.
Our team of seasoned professionals is dedicated to simplifying the mortgage process, providing personalized solutions, and ensuring you feel confident every step of the way.
We prioritize honesty and clarity. From disclosing every detail upfront to ensuring no hidden surprises, we build trust through our commitment to your financial success.
No! This program is open to both first-time and repeat homebuyers. There is no first-time buyer requirement, making it accessible to more borrowers.
The program accepts credit scores as low as 580. Even if you don’t have a traditional credit history, non-traditional credit options may also be considered.
No. One of the best features of this DPA program is that there is no income cap. It’s available to buyers at any income level.
Yes. The assistance can be used for down payment, closing costs, or both, depending on your needs and qualification level.
You can receive 2.5%, 3.5%, or 5% of the lesser of the purchase price or appraised value. The second lien is repayable over 10 years at a rate 2% higher than your first mortgage.
Eligible properties include:
1-unit residences
FHA-approved condos
Planned Unit Developments (PUDs)
2–4 unit properties
Manufactured homes (single-wide & double-wide)
Yes. This DPA program is structured for FHA loans and follows FHA lending guidelines.
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
Reduce your monthly payment or loan term while unlocking the full potential of your home’s equity!
Unlocking the American Dream, One Home at a Time
NMLS# 2620881 | NMLS Consumer Access Record