DPA, or Down Payment Assistance comes in all shapes and sizes. DPA is an awesome way to bridge the gap between owning and renting. But let me delve into this a little to help bring some clarity in how they work. First off, Grants are a form of DPA, but not all DPAs are grants. A grant comes from an entity, typically a government body, which “loans” you a sum of money (usually $5000 or more) for down payment and/or closing costs. Yes, I said “loans” and not gives. There’s only

Home Equity Lines of Credit, or HELOCs, are a loan instrument used to access your home equity. I want to address what they are and then how to get them. First, a HELOC does not function like a regular mortgage. It is not an installment loan. But it IS a lien against the title to your house, just like a regular mortgage is. And if you fail to make your payments on time you can lose your house to foreclosure. A HELOC can be charged up and paid off and charged up again just like