The Pathway DPA program is a unique down payment assistance program that helps homebuyers bridge the gap between renting and owning. Unlike most programs that require a credit score of 640 or higher, Pathway DPA opens doors for buyers with scores as low as 580.

This program is designed to work seamlessly with FHA loans, providing financial assistance that helps cover the upfront costs of buying a home, including the down payment and, in some cases, closing costs. Most of the guidelines for this program follow those of standard FHA loans.

With Pathway DPA, buyers can choose between 3.5% and 5% down payment assistance options, making it flexible to fit a variety of financial needs.

If you’re searching for mortgage programs for low credit scores, the Pathway DPA program may be the perfect fit. Here’s what you need to know about eligibility:

• Credit Score: Minimum FICO score of 580.
• Income Limits: There are no income limits for this program.
• First-Time Homebuyer Requirement: There is no requirement to be a first-time homebuyer.
• Property Type:
  • Single-family residences (SFR)
  • 1-2 unit properties
  • Condominiums (FHA-approved or single-unit approval)
  • Manufactured homes
  • Ineligible Properties: 3-4 unit properties are not eligible.

This program is ideal for buyers seeking down payment assistance with a low credit score and looking to buy their first home or re-enter the market after financial setbacks.

The Pathway DPA program stands out from other California down payment assistance options for several reasons:

1. Lower Credit Score Requirements: Most programs require a 640+ credit score, but Pathway DPA allows buyers with scores as low as 580 to qualify.
2. FHA Compatibility: Perfect for those exploring down payment assistance for FHA loans.
3. Increased Accessibility: Offers financial flexibility to buyers who may not qualify for traditional programs.
4. In-House Product: This is an in-house product offered by US Lending Company, a top mortgage lender in Redding, CA, ensuring you get personalized support throughout the process.

Q: What if my credit score is under 580?

A: You’re in the right place! Our mortgage advisors have credit tools to help you understand what’s impacting your credit score, and they can also help find ways to raise it.

Disclaimer: US Lending Company is not a credit repair or financial service company. We are not licensed credit repair specialists or counselors, and we are not licensed financial advisors. Please get in touch with a qualified financial professional for your personal financial situation. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors.

Q: Can I purchase an investment property with this program?

A: No, this program is to help buyers purchase primary residences only.

Q: Where can this program be used?

A: This is a national down payment assistance program that is available in all states with the exception of New York, where we are not licensed to do business.

Q: Can I use this program to build a home?

A: Unfortunately, this program is not for new construction. It is only to purchase existing homes.

Q: Does the down payment assistance have to be repaid?

A: Yes, the assistance comes in the form of a 10-year repayable loan. Payment begins with the first lien payment date.

NOTE: If the first lien is refinanced, the second lien cannot be resubordinated until 36 months have passed on the 3.5% DPA option, or 60 months have passed on the 5% DPA option. Otherwise, full payoff of the second lien will be required at the time of refinance.

Q: Is there a prepayment penalty?

A: No, this loan may be prepaid in whole or in part at any time without prepayment penalties.

Ready to learn more about how Pathway DPA can work for you? Schedule your consultation online now and take the first step toward homeownership. Taking the first step toward homeownership with the Pathway DPA program is easy. Here’s how:

1. Schedule a Consultation: Our experienced team will evaluate your eligibility and explain how the program works.
2. Get Pre-Approved: We’ll help you determine how much assistance you can receive.
3. Start Home Shopping: Use the program’s benefits to secure a home that fits your needs and budget.

Whether you’re in Redding, CA, or elsewhere in California, we’re here to help.

Schedule a phone consultation to explore your options by calling us at (530) 244-6830, or visit our branch office in Redding to meet with a mortgage expert in person.

Our team is committed to helping you find home loans that allow under 600 credit scores and guiding you toward homeownership success.

Owning a home is possible—even with a low credit score. The Pathway DPA program provides the support you need to make your dreams a reality. Contact us today to learn more about downpayment assistance options and start your journey toward a new home.

Ready to get started? Schedule your consultation online or give us a call at (530) 244-6830 today!