Down Payment Assistance has been available throughout the nation for FHA, Conventional, USDA, and VA buyers for a long time. I still run into Realtors and clients that think Down Payment Assistance (DPA) programs on mortgages are only for first-time homebuyers. This is not true. Down Payment Assistance is available for non-first time homebuyers too. CHFA provides down payment assistance grants and silent seconds for FHA, Conventional, and VA buyers whether or not they are first time homebuyers.

So to start, what exactly is an interest rate buydown?

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