DPCC FAQs for Homebuyers

Down Payment / Closing Cost (DPCC) Assistance Program: FAQs for Homebuyers

  1. Who is qualified to apply for the program?
  2. I’m qualified to apply! What are the loan terms?
  3. I am also participating in the Affordable Dwelling Unit (ADU) Purchase program. Can I use the DPCC program in conjunction with my home purchase?
  1. I’ve submitted my complete application and all supporting documents. How long will it be before I know if I’m approved?
  2. What do you need from me to keep the application process moving as quickly as possible?
  3. Are there any other conditions for my acceptance of the loan?
  1. I read in the guidelines that there is a service fee of $200 required for the program. How do I get payment to the county?
  2. How soon can we go to settlement after approval?
  3. My lender said that I could possibly get my earnest money deposit back at closing. Is this allowed?
  1. What if I want to refinance in the future to get a lower rate?
  2. What happens next? When do I have to start making loan payments?
  3. I may be able to pay off my loan early. Is there a pre-payment penalty?