Down Payment Assistance


There are several programs to help homebuyers with their down payment and closing cost assistance. Down Payment Assistance helps homebuyers overcome a major obstacle to buying a home, the down payment. We can help low-to-moderate income individuals and first-time homebuyers purchase an affordable home.

Below are the parameters that have to be met for Impac Mortgage Corp. to participate in an official and recognized governmental entity down payment assistance program:

Program Eligibility:

Loan Type

  • FHA and Conventional 30 Year Fixed Loans
  • Conforming loan limits for area – ask one of our Experience Loan Officers for assistance

Property Type

  • Single Family and condominiums
  • Owner‐occupied
  • No Manufactured Homes


  • Borrower must contribute a minimum of $1,000 to transaction, no matter how large the DPA second.
  • Borrower to complete a Home Buyer Education course that is recommended and approved by the funding Governmental Entity
  • Minimum credit score of 640

Governmental Entity Down Payment Assistance (DPA)

  • Governmental Entity approves borrower for DPA and provides Impac Mortgage Corp. with proof borrowers have been qualified and approved
  • Governmental Entity provide the DPA funds
  • Governmental Entity underwrites and qualifies borrower for DPA financing
  • Governmental Entity draws and provides second trust deed, executes all disclosures
  • Governmental Entity wires or provides a check to the Funding Agent
  • If not a silent second, terms have to be provided to Impac Mortgage Corp. for the calculation of housing and debt to income ratios

Connect with a Loan Officer at Impac Mortgage Corp., Get a Quick Quote or
Call Us Today 877-605-9531


© 2019 Impac Mortgage Corp., Corporate Office located at 19500 Jamboree Rd., Irvine, CA 92612, 800-597-4101. NMLS #128231, AL #MC20787; AK #AK128231 AZ #BK-0910550; California Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act #4131083; Colorado Regulated by the Division of Real Estate; Georgia Residential Mortgage #23673; Illinois Residential Mortgage Licensee; Kansas Mortgage Company License #MC.0025417; Licensed by the Mississippi Department of Banking and Consumer Finance; Nevada 2831 St. Rose Parkway, Suite 215, Henderson, NV 89052 702-589-4637; Licensed by the New Hampshire Banking Department; Licensed by the N.J. Department of Banking and Insurance; Impac Mortgage Corp. dba Excel Mortgage - NY Licensed Mortgage Banker—NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850196.000; OR #ML5014; PA #46178; Licensed by the Virginia State Corporation Commission #MC-5526; and WA #CL-128231. All applications are subject to underwriting guidelines and approval. Not all programs available in all areas. Other restrictions may apply. Also doing business in AR, CT, DC, FL, HI, ID, IN, IA, KY, LA, MD, MI, MN, MO, MT, NE, NC, ND, NM, OK, SC, SD, TN, TX, UT, VT, WV, and WI. NMLS Consumer Access - Equal Housing Lender
*Impac Mortgage Corp. is not licensed to conduct business in the following states: CT, DE, MA, MD, ME, NY and WY.

Website authorization by New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.

Reminder: Loan applications or inquiries will be addressed by Impac Mortgage Corp.’s CashCall Mortgage division.