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. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Mortgage Equity Partners.

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.

MEP Advantage DPA Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, 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.

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.

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

MEP Advantage DPA Program is a nationwide program, so it is not limited to one state.

Applications for MEP Advantage DPA Program go through the administering agency. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.