Down Payment Plus

Up to $6,000 Grant

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Downpayment Plus is a matching program that provides down payment and closing cost assistance for income-eligible homebuyers. The assistance is provided in the form of a forgivable grant paid on behalf of the borrower at the time the borrower closes on mortgage financing with a participating financial institution, such as State Street Bank. Grants are not restricted to first time home buyers and can be used for down payment, closing costs or rehab costs. Grants are forgiven on a monthly basis over a five-year retention period.  The amount of the grant changes yearly and new requirements are announced each year in March. ​​Funds for this program are limited and are awarded on a first-come, first-served basis until the funds are depleted. For 2021, the maximum grant amount is the lesser of $6,000 or three times the homebuyer’s net contribution.


Interview with
Nathan Terwelp

Vice President of Mortgage Lending
NMLS# 478282


To be eligible, you must meet income and eligibility requirements, including:

  • Your total household income may not exceed 80 percent of the area median income (based on income guidelines published annually by the U.S. Department of Housing and Human Development (HUD). Adams County household income limits.
  • You must contribute at least $1,000 toward the home purchase. 
  • You must attend pre-purchase home buyer education to ensure you understand the buying process as well as ownership responsibilities.
  • You must use the home as your primary residence. 
  • You must sign a five-year retention agreement and agree to a lien on the property for the amount of the DPP grant. DPP grants are forgiven over a period of five years (1/60th per full month). In the event of property sale or removal of the Affordable Housing Program (AHP) lien prior to the end of the 5-year retention period, the homebuyer(s) may be required to repay a pro rata of the grant.
  • You must meet SSB's loan underwriting criteria.  

To find out if you’re eligible for Down Payment Plus, contact an SSB Lender today, 217-640-5770.