Community Lending


As part of our commitment to give back to our communities, we are proud to offer Down Payment Assistance and flexible mortgage programs.

Our goal is to provide mortgage solutions for underserved communities who may not fit the traditional mortgage profile. No matter what type of homebuyer you are, Silverton will ensure that you are well-equipped for homeownership.

Our Commitment to Community

Local Expertise

We look to bring a deep understanding of the unique needs and aspirations of our neighbors. Our local expertise allows us to provide tailored solutions that align with your goals.

Affordable Financing

We believe everyone deserves the opportunity to own a home. Our Community Lending Program offers competitive interest rates and flexible terms, making homeownership more accessible without compromising on financial stability.

Empowering Dreams

Homeownership is more than a transaction; it’s a dream. We are committed to empowering individuals and families in our community to achieve their homeownership dreams through transparent, supportive, and personalized lending.

Key Features of Community Lending

Down Payment Assistance: We understand that saving for a down payment can be a significant barrier. Our program includes options for down payment assistance, making it easier for you to take that crucial first step towards homeownership.

Credit Counseling: Worried about your credit score? We can provide you with a wide variety of credit counseling services to help you understand and improve your credit profile, ensuring you are well-positioned to secure a mortgage. Our Homeownership and Finance Center also provides financial education classes to help promote financial wellness.

Educational Workshops: Knowledge is power. We host workshops on various homeownership topics, covering everything from the mortgage process to home maintenance. These sessions aim to empower you with the information needed to make informed decisions. Workshops are hosted at our Homeownership and Finance Center. Click here to learn more.

Community Investment: Our ongoing endeavor is to explore avenues for investing in the well-being of the communities we are privileged to be a part of. Through The Silverton Foundation, a portion of each closed loan is contributed by Silverton to provide vital mortgage and rent assistance to families facing the challenges of critically ill children. We perceive this as a meaningful reinvestment in both our local communities and across the nation.

Down Payment Assistance

Down Payment Assistance (DPA) is a form of financial aid that is available to help homebuyers cover the cost of a down payment so that they can afford homeownership. They are mostly reserved for first-time homebuyers but sometimes extend to other types of borrowers. Typically, this type of assistance can be sought through your local or state housing authority or via non-profits.

How much you’re able to receive depends on the type of program and your specific situation. Some will make the determination based on the price of the home you’re buying, while others will cap assistance at a certain dollar amount.

When you find a down payment assistance program that you feel may be right for you, it’s important to establish your eligibility. This is usually determined by your income and credit history. Oftentimes, you’ll also need to attend training on a subject usually related to maintaining your finances or the responsibilities that come with homeownership.

What Types of DPA Programs are available?

There are thousands of down payment assistance programs nationwide. They come in several different forms including grants, loans, and credits. Here’s a breakdown of how they differ:

  • Grants – Money is given to the borrower that doesn’t have to be paid back under the condition that you own and live in your home for a specified amount of time.  This will typically be secured by a lien on the property until the conditions are met.
  • Second mortgage loans – This is the most common type of down payment assistance. Loans are offered at low or no interest rates to be paid back or forgiven over a certain period of time.  This most likely will also be secured by a lien on the property.
  • Tax credits – certain agencies throughout specific states issue mortgage credit certificates. These certificates can reduce the amount of federal income tax you pay, which may make it possible for the borrower to have more funds available for a down payment and other costs associated with the mortgage process.  Keep in mind that this credit is not received until you file a tax return, so be sure to consult with a tax advisor for your specific situation.

If you don’t qualify for a Down Payment Assistance program through your local or state housing authority, there are also government-backed programs that require lower down payment amounts. Some of the most popular loan programs that offer low or no down payment options are:

  • FHA – With an FHA loan, low-to-moderate income borrowers with a credit score on the lower end can still finance their home with a low down payment option. Insured by the Federal Housing Administration and issued by an FHA-approved lender, such as Silverton Mortgage, this program has helped many people become homeowners throughout the years.
  • VA – This program is designed specifically to help service members, veterans, and eligible spouses become homeowners. What makes this loan different from many others is its option for no down payment and no monthly mortgage insurance. VA loans are provided by private lenders with the Department of Veterans Affairs guaranteeing a portion of the loan. This makes it possible for the lender to provide more favorable terms. Silverton Mortgage is proud to support our veterans by offering VA loans and waiving origination fees to those who qualify.
  • USDA – This program is a zero-down-payment mortgage option for those who are looking to live in eligible rural areas of the country. If you’re unable to get approved for a conventional loan due to income or credit and would prefer tree lines over skylines, this may be the perfect avenue to homeownership.

How to apply for Down Payment Assistance?

If you’ve decided that Down Payment Assistance is right for you, there are several ways to get started with the application process. Start by researching for programs offered through your state’s housing finance agency. At Silverton Mortgage we offer several down payment assistance options. If you’d like to explore your options, contact one of our mortgage professionals today.