Down payment assistance (DPA) programs provide funds to help homebuyers cover their down payment. Unlike many programs, this program is a grant (which doesn’t need to be repaid). Other program are either a forgivable loan, or a silent second mortgage that gets repaid when you sell or refinance the home. This DPA does not require repayment and is not a lien. 

Yes. This program is for first time home buyers and are not currently on any mortgage and and not owned or co-signed on a mortgage for another property for at least 3 years. 

You can get up to 3% of the purchase price. Get qualfied for a conforming loan for 97% first mortgage, and you can get a 1%, 2%, or up to 3% Down Payment Assistance Grant. That grant is forgiven after 6 months.

Yes. The rate for the 97% conforming mortgage is affected by the size of the grant. The 1% grant gives you a better rate than the 2% and 3% option. Good news is that you can refinance after 6 month.