The Salt Lake City-headquartered affordable housing program Arrive Home has launched New Foundations DPA, a down payment assistance program designed to accommodate borrowers purchasing manufactured homes.
New Foundations DPA provides 3.5% down payment assistance on the purchase price of a single- or double-wide manufactured home on a permanent foundation. The DPA pairs with a 30-year FHA loan and has a 1% fixed interest rate below the first mortgage.
The New Foundations DPA program is not limited to first-time homebuyers and is available in 49 states (the exception being New York).
“The launch of New Foundations DPA represents a meaningful expansion of our mission to unlock responsible homeownership for more families,” said Shawn King, executive vice president of national sales and a co-founder of Arrive Home. “By extending down payment assistance to borrowers purchasing manufactured homes, we’re addressing a critical affordability gap and giving lenders a powerful new tool to help underserved communities. At Arrive Home, innovation isn’t about novelty—it’s about creating practical, scalable solutions that help aspiring homeowners move closer to the American Dream.”
Sounds good. Do you find the location and homes, or is it based on my finding the housing?
It’s more difficult than it sounds. I like to know. Thanks