Buying a home is the American Dream and one of the most exciting times in a person's life! However, for many first-time home buyers, one thing often stands in their way...a down payment. The long-lived myth that you need a 20% down payment to purchase a home is just that...a myth. There are several loan programs that require less than a 20% down payment: Conventional (5%), FHA (3.5%), USDA (0%) and VA (0%); however, home buyers can also get help through Down Payment Assistance programs!
Down Payment Assistance (DPA) programs are a great option to consider if you want to become a homeowner, but struggle coming up with your down payment. DPA programs are available through a variety of sources including federal, state, county and city agencies, as well as non-profit agencies. They provide a fixed amount of money to qualified buyers that can be used for a down payment, and even closing costs on a home purchase. The amount of money available to a home buyer depends on the agency administering the funds. Money provided through DPA programs are generally considered to be one of three things:
A grant
An interest-free loan
A debt you repay in the future
There is a misconception that DPA programs are only available to first-time home buyers. A little more than 60% of programs cater to first-time home buyers; however, there are programs available to repeat buyers as well. Although down payment assistance is available, not every home buyer will qualify for it. Each program has its own rules for determining a buyer's eligibility. Where a person lives and how much money they make will influence eligibility for some DPA programs. "There are geographical zones and income limits, depending on those zones and how many people are in the household," says mortgage expert and author, Elysia Stobbe. Other qualifying factors may also come into play. These include, but are not limited to:
Credit Score
Debt-to-Income ratio (DTI)
Completion of a homebuyer education course
Military/Veteran status
Employment in a public service position
Still think you need a 20% down payment to purchase a home? Think again. Down Payment Assistance programs are readily available and designed to help those who want to purchase a home, but might otherwise be shut out of the market.
TO EXPLORE YOUR DOWN PAYMENT ASSISTANCE OPTIONS, CONTACT US TODAY!!
Dominique worked tirelessly to ensure the whole process went smoothly, communicating outside of typical business hours to expedite completing steps. She thoroughly answered questions so that I always felt secure in understanding the details. Dominique's dedication to customer service is evident by her attention to detail, communication, and her positive demeanor. It was a pleasure working with Dominique, and I will definitely recommend her and Interlinc to anyone I know looking for an originator. Thank you, Dominique!
Bretton S.
Dominique is amazing! She now has a customer for life. She made this process of buying a home super smooth.
Sharday O.
Terrific experience from start to finish! Prompt answers to every question, clear explanations of all aspects of the process, tons of patience, very friendly and professional.
Susie C
Dominique is amazing! She now has a customer for life. She made this process of buying a home super smooth.
Sharday O
We recently purchased our new home, and our loan officer Dominque Ellis was instrumental in making this process smooth and stress-free. From the very beginning, she exhibited an exceptional level of professionalism, expertise, and dedication.Dominique took the time to thoroughly explain every step of the loan process, ensuring we fully understood our options and felt confident in our decisions. She was always available to answer our questions, no matter how small, and responded promptly to emails and calls. This level of communication made us feel valued and supported throughout the entire journey.One of the standout aspects of working with Dominique was her attention to detail and proactive approach. She anticipated potential challenges and addressed them before they could become issues, which greatly expedited the closing process. Her deep knowledge of the mortgage industry and keen insight into our financial situation helped us secure the best possible terms for our loan.Furthermore, Dominique demonstrated genuine care and commitment to our family's needs, which went above and beyond our expectations. It was clear that she wasn’t just interested in closing a deal, but in helping us achieve our dream of our forever home.Thanks to Dominique, we are now enjoying our new home and couldn't be happier with the service we received. We highly recommend her to anyone in need of a mortgage professional. She is truly outstanding at what she does, and we are grateful for all her hard work.
Crystal R
We recently purchased our new home, and our loan officer Dominque Ellis was instrumental in making this process smooth and stress-free. From the very beginning, she exhibited an exceptional level of professionalism, expertise, and dedication.Dominique took the time to thoroughly explain every step of the loan process, ensuring we fully understood our options and felt confident in our decisions. She was always available to answer our questions, no matter how small, and responded promptly to emails and calls. This level of communication made us feel valued and supported throughout the entire journey.One of the standout aspects of working with Dominique was her attention to detail and proactive approach. She anticipated potential challenges and addressed them before they could become issues, which greatly expedited the closing process. Her deep knowledge of the mortgage industry and keen insight into our financial situation helped us secure the best possible terms for our loan.Furthermore, Dominique demonstrated genuine care and commitment to our family's needs, which went above and beyond our expectations. It was clear that she wasn’t just interested in closing a deal, but in helping us achieve our dream of our forever home.Thanks to Dominique, we are now enjoying our new home and couldn't be happier with the service we received. We highly recommend her to anyone in need of a mortgage professional. She is truly outstanding at what she does, and we are grateful for all her hard work.
Crystal R
Working with Dominique is always a pleasure, super knowledgeable and helpful to answer the questions her clients have. She is the best!
Austin C
Great experience.
Cade C
Dominique and the entire Interlinc group was so helpful and worked to quickly and diligently to get us from applications to closing for both us and our son. I would highly recommend Interlinc and Dominique to anyone needing to refin or purchase a home.
Ronda P
I was very pleased with the prompt and courteous service provided by InterLinc and it’s staff.
Richard T
Dominique was fantastic and made this process the best that I could have ever expected! Will definitely come back in the future and recommend anyone I know that comes into the market for a home!
Keith D
Dominique come up with a game plan to help my clients win their first ever home purchase. Our transaction was seamless and my clients couldn't believe how easy she made the entire process.
Mary B
It was very nice not having any surprises when working with Dominique. She was informed, and kept us informed through the whole process. She was very professional, and it was awesome working with her.
Philip K
Dominique made our first time home buying experience a lot less stressful once she started working with us. Very pleasant experience overall and I would highly recommend. Thank you again for all you have done for us.
Jerome T
My husband and I loved working with Dominique! She was so responsive, answered any questions we had, was an advocate for us, and helped us get into the house of our dreams.
Alexandra N
Dominque is always super responsive to me and my clients. Dominque always goes above and beyond for her agents and clients and her dedication and work ethic are why myself and my clients keep returning to her!
Christina W
The communication was great during the entire process.
Zel F
Dominique is one of the best loan officers I’ve had the pleasure of working with. She provides 5 star customer service for her clients and goes out of her way to run numbers etc to assure the client is comfortable with their payments etc. Don’t hesitate to reach out to Dominique if you are ready to become pre-approved for a loan or refinance your home. She will not disappoint and will continue to help you even after the loan is closed.
Cameo S
Dominique did a fantastic job for my client. The loan closed even faster than it was supposed to close, and she provided top-notch customer service for my buyer and made the process easy.
Cameo B
Everyone was incredibly helpful, professional, and kind! We can tell you all care about your clients because you helped this experience be as smooth and simple as possible.
Julia E
Dominique was so very helpful; always available to help with questions. Great service!
Kelley C
Dominique was awesome! She kept my buyer updated every step of the way!
Lisa H
Dominique and the Interlinc team was amazing!! I made it to the closing table due to their hard work.
Cameo B
I love that my clients say Dominique communication is always "on par." She makes a stressful situation so much more simple and smooth for my clients. As an agent, I am always in the loop also. Her communication makes a transaction so much better!
Aubrey B
Very responsive to my needs. Made eveything quick and easy.
Leslee W
After having a bad experience with a previous lender, working with Dominique was like a breath of fresh air. She was so pleasant and positive. She made sure that we understood every step of the process and never had any questions. Not only that, but she made sure all of our paperwork was perfect so we had less stress at the end of the process. We started this journey with a new lender and ended it with a friend.
Emily N
This is our second home buying experience with Dominique, for good reason! The quality of service is unmatched and “shopping” for a lender is unnecessary once you’ve found her. We would never trust anyone else to provide the customer service that she and her team do! They really are there for you every step of the way.
Morgan N
Very much enjoyed working with Dominique! The clients were repeat buyers with her and had 100% faith in her! Great partnership!
Dawn F
Dominique has been very helpful and communicative. She did everything in a timely fashion and made the transaction smooth and easy.
Bryan M
You all were absolutely awesome! Easiest closing we have ever had!
Beth A
Bob and Dominique were an amazing team to work with! They were both great at communicating every step and answering all of my questions. Dominique went above and beyond to help us through this process!
Christina W
Love Dominique and the crew at Interlinc. Looking forward to all the business we will do in 2023!
Sara M
She knows what I need to do before I do.
Billie J
We’d follow Dominique anywhere. She is the absolute best and working with her is always easy! She explains everything in a way that is easy to understand and works through all of my concerns or issues quickly and made me feel so much better about interest rates!
Stephanie L
Dominique is a delight to work with. Always friendly, knowledgeable, and hardworking. I'll recommend her to clients, family, and friends!
Brandy F
