What is the JOLT program?
JOLT is a down payment assistance program that provides funds to help cover down payment and eligible closing costs when purchasing a primary residence.
- Available with FHA loans
- Open to first-time and repeat homebuyers
- No income limits
- Funds provided through qualified nonprofit organizations
- Governed by federal lending and agency guidelines
JOLT is intended for owner-occupied homes and helps buyers overcome one of the most common reasons purchases are delayed or abandoned.
How JOLT Can Help You Buy a Home
Here’s what JOLT offers homebuyers:
- Down payment and eligible closing cost assistance
- Little to no upfront cash required
- Options with forgiveness or structured repayment
- Available for primary residences
- Flexible credit score thresholds depending on program choice
Whether you’re entering the market for the first time or moving up to your next home, JOLT provides real solutions to common affordability challenges.
Program Options
3-Year Forgivable
- Up to 3.5% of the home’s purchase price or appraised value
- 0% interest and no monthly payments
- Loan forgiven after 36 months if you remain in the home and meet program requirements
- ARM loans not allowed
- 640 minimum FICO score
5-Year Forgivable
- Up to 3.5% of the purchase price or appraised value
- 0% interest and no monthly payments
- Loan forgiven after 60 months as long as you maintain the home as your primary residence
- 660 minimum FICO score
10-Year Repayable
- Up to 3.5% or 5% assistance available
- 10-, 20-, or 30-year amortization with balloon features on longer terms
- Structured repayment may suit buyers who want predictability
- 620 minimum FICO score
Who Is Eligible?
To qualify for JOLT assistance:
- You must be buying a primary residence
- The property must be eligible for FHA financing
- FHA automated underwriting approval is required (no manual underwriting)
- You must have at least one valid credit score
- Credits score minimums apply based on the option you select
- Eligible properties include:
- Single-family homes
- Condominiums
- Planned unit developments
Manufactured housing is not eligible.
Frequently Asked Questions About the JOLT Down Payment Assistance Program
Do I have to be a first-time homebuyer to qualify?
No! JOLT accepts both first-time and repeat buyers. Anyone purchasing an owner-occupied primary residence who meets eligibility standards can participate.
What happens if I sell my home before the forgiveness period ends?
If you sell before the 36- or 60-month forgiveness period is complete, the outstanding second lien balance must be repaid. Repayable option borrowers follow their agreed repayment terms regardless of sale timing.
Can JOLT be combined with other down payment assistance programs?
JOLT generally cannot be layered with other down payment assistance programs. Certain mortgage credit certificates and select buydown options may still be allowed.
Are there restrictions on the type of home I can purchase?
Eligible properties include single-family homes, condominiums and planned unit developments. Manufactured homes are not permitted.
How long does the JOLT approval process take?
JOLT follows standard FHA processing timelines. Automated underwriting helps ensure an efficient and streamlined approval process for qualified borrowers.
