Our “shareholders” are the everyday Americans who do business with us, our members. And our earnings? They belong to you, our members, so we put them right back to work to give you the best deals, from better rates to lower fees.

At ALLIANCE, we are proud to offer the ALLIANCE Down Payment Assistance Program.

Many down payment programs and grants are only for first-time home buyers. Not this one! The ALLIANCE Down Payment Assistance Program offers up to 7% of your final mortgage cost at closing, meaning you could sign your closing documents with little to $0 due at closing!

How it works:

Once you’ve applied for a Home Loan online HERE or with one of our amazing lenders at the ALLIANCE Home Loan Center (8401 Quaker Ave.), you can apply to qualify for the ALLIANCE Down Payment Assistance Program. If you are approved, you will be informed of the level of your assistance, which will vary depending on the total amount of your loan.

If you qualify, you will receive a second “silent” loan to use towards down payment and closing costs. The repayment of this loan is forgiven over a defined period of time for each full month that you reside in your new home. After the defined term, the subordinate lien is released. This means that once you’ve owned your home and paid your mortgage for the defined term, the down payment assistance you have received will be forgiven. If you were to move prior to living in the home for the term, you would be required to pay back a prorated portion of your assistance. The defined term can be 5, 7 or 10 years.

This program will allow you, as the borrower, to cover the cost of your down payment and closing costs without adding to the interest or the payments of your mortgage!


●      No first-time homebuyer requirement; no need for tax returns

●      No federal recapture tax provision

●      Income limits based on qualifying income only, by county regardless of family size

●      No need to calculate “household income” 

If you’ve been dreaming of owning your first home or maybe you’re just looking for a change (but dread clearing out your savings account to get there) the ALLIANCE Down Payment Assistance Program is the solution you’ve been looking for. APPLY ONLINE TODAY or schedule an appointment with one of our knowledgeable lenders at 806.776.0991 or by clicking HERE.