Puerto Rico offers 2 down payment assistance programs to help homebuyers cover their down payment and closing costs. Programs range from statewide options administered by the state housing finance agency to local city and county programs targeting specific communities.
Maximum assistance available reaches $0 through the most generous program. Most programs require the home to be your primary residence, and many require homebuyer education.
Deferred Payment Loans (2)
Deferred loans require no monthly payments while you live in the home. You repay when you sell, refinance, or move out.
Chenoa Fund FHA Down Payment Assistance Forgivable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Chenoa Fund FHA Down Payment Assistance Repayable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
Note rate 1% above the first mortgage note rate
Repayment Terms
This loan does require a monthly payment on the second mortgage.
How to Apply for Down Payment Assistance in Puerto Rico
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1
Check Your Eligibility
Use our free eligibility tool to see which programs match your situation. Enter your state, city, income, and target home price.
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2
Contact the Program Administrator
Each program has its own application process. Visit the program website or call the administering agency to get started. Many programs work through approved lenders.
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3
Get Pre-Approved with a Participating Lender
Not every lender participates in every DPA program. Work with a lender who is approved for the programs you want. The program administrator can provide a list of approved lenders.
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4
Complete Homebuyer Education (If Required)
Many programs require a HUD-approved homebuyer education course. Online options through eHome America and Framework are accepted by most programs.
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5
Close & Move In
DPA funds are typically disbursed at closing alongside your first mortgage. Your lender coordinates the DPA program paperwork as part of the loan process.
Frequently Asked Questions
How much down payment assistance can I get in Puerto Rico?
Up to $0 through available programs in Puerto Rico. Multiple programs can often be combined for even more assistance. The exact amount depends on your income, location, and the specific program requirements.
Do I need to be a first-time homebuyer?
Not always. 2 programs in Puerto Rico are open to repeat buyers. "First-time buyer" is typically defined as not having owned a home in the past three years.
What credit score do I need?
Requirements vary by program. Most require a credit score of at least 620-660.
Can I combine multiple DPA programs?
In many cases, yes. Some programs are specifically designed to be layered with others. For example, you might combine a state grant with a local deferred loan. Check with each program administrator about stacking eligibility.
Help Us Keep This Data Accurate
Know about a DPA program in Puerto Rico that's changed, closed, or one we're missing? This directory is community-maintained. Your input helps thousands of homebuyers find the right programs.
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