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MEP Advantage DPA Program

Statewide, California

Last verified
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Repayment

Deferred

No payments until the home is sold or refinanced

What is MEP Advantage DPA Program?

MEP Advantage DPA Program is a deferred second loan for homebuyers in Statewide, California.

  • Lender-funded DPA program; deferred or repayable second. Pairs with FHA or Conv first mortgage.
  • Up to 5% of loan amount in DPA, structured as a deferred or repayable second loan. Available through correspondent lender network.
  • Funding comes from Mortgage Equity Partners.

Do you have to pay it back?

MEP Advantage DPA Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by sale, refinance, or end of term.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

MEP Advantage DPA Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (MULTI250086). Available in CA, CO, CT and other MEP correspondent states. Lender-administered; eligibility per FHA/Conv guidelines plus MEP overlays.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

MEP Advantage DPA Program sets its income limit as follows: Per FHA / Conv lender guidelines.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

MEP Advantage DPA Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

MEP Advantage DPA Program serves buyers purchasing in Statewide, California.

How do you apply?

Applications for MEP Advantage DPA Program go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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