Down Payment Assistance (DPA)

featured

We know some potential homebuyers could really use a little help with their down payment.

Preferred Rate has access to 5 National DPA programs, in addition to hundreds of programs that can help buyers in specific geographic areas.

Talk to your loan advisor about regional assistance programs that may help you buy your home.

Product highlights

Assistance available for down payment and closing costs
Grant and second mortgage options available
Programs available nationwide and regionally
Available for first-time and repeat buyers (program dependent)
Income limits may apply (program dependent)
Forgivable and repayable structures available
Designed to reduce upfront cash needed to purchase

Borrower advantages

Get their dream home now – don’t wait to save for a down payment
Available for first-time or repeat homebuyers, co-borrowers don’t have to live in the property
With low down payment options, cancelable mortgage insurance and more, homeownership can be more affordable
Some options do not need to be paid back if requirements are met

Realtor advantages

Get more buyers into homes with DPA loan options
Expand your reach with additional programs that provide flexibility and financing alternatives
Low down payment and DPA programs enable homeownership faster reality for many

What Clients Say About Us

“Daniel was great! Very efficient and very friendly. He always got back to us in a timely manner and always called us to explain things rather than just texting. Very personable guy! Very quick as well! We closed 2 weeks sooner than expected. I cannot say enough nice things about preferred rate, I definitely recommend them to everyone!”

Megan H

“I cannot put into words how amazing Dan and his team were during this whole process. They consistently went above and beyond to ensure I was fully taken care of. Not working with a realtor was a bad call on my part, but Dan was there every step; and a few bumps, offering unbiased advice and making sure I was taken care of. This momma and her girl tribe finally have a place of their own to call home; I am so thankful for Dan and his team!”

Savannah C

“This is my second home purchase using Dan. He is great to work with, he explains everything and is always there to answer any questions.

Update: When rates dropped early October 2025, Dan reached out to let me know and we knocked the refinance quickly. Dan is also always quick to answer questions no matter time or day of the week. No one else I’d rather do business with.”

Nate W

“We don’t have enough good things to say about Bihn Group! We tried to buy a house years ago and were consistently disappointed, houses sold out from under us, etc. so we gave up! We reached out to Dan this time around and he was so efficient and kind about everything! He answered all of our questions with honesty and we were so lucky to find our dream house as quickly as we did. Our son hasn’t stopped running around in our yard since we moved in! Thank you, Dan and Bihn Group for helping us achieve this goal in life!”

Taylor S

“Thank you for making a dream a reality. For years my husband, kids and I would talk about the perfect house we would have one day. It’s easy to find a house but difficult to get the keys and even more difficult to tell your kids this one didn’t work out. Dan, thank you for directing and clearing the path to our new home. We are extremely grateful!”

The McCulley’s