Down Payment Assistance Program Directory
If you're looking for down payment assistance, you've come to the right place. As a potential home
buyer, you know how difficult it is to save sufficient money to make a down payment on a home. For
some, it seems impossible to even begin to save enough cash without some form of down
payment help, much less saving that money in the time necessary to take advantage of today's low
mortgage rates.
Unfortunately, down payment is sometimes hard to come by-until now. That's why we created this
unique grant and charity directory to help thousands of home buyers purchase their first home with
a streamlined process of applying for, and obtaining, some form of down payment help.
If you're looking for down payment assistance, you've come to the right place. As a potential home
buyer, you know how difficult it is to save sufficient money to make a down payment on a home. For
some, it seems impossible to even begin to save enough cash without some form of down
payment help, much less saving that money in the time necessary to take advantage of today's low
mortgage rates.
Unfortunately, down payment is sometimes hard to come by-until now. That's why we created this
unique grant and charity directory to help thousands of home buyers purchase their first home with
a streamlined process of applying for, and obtaining, some form of down payment help.
Hud does not have a particular policy regarding Down Payment programs in terms of applying for
approval with HUD. However, HUD Does indeed maintain a list of HUD Approved down payment
assistance programs. The primary focus for HUD, regarding down payment programs, is insuring
that no secondary financing (2nd mortgage - excluding HUD Approved secondary financing) is
closed in conjunction with an FHA Insured mortgage loan.
HUD's General policy, as of this writing, is a program that is a registered 501C3 Charity, and
adheres to HUD's secondary financing guidelines, may act as a gift agent for purchase of a home.
Acceptable gift guidelines for HUD include:
* A Gift from a relative or family friend with documentable "clearly defined" interest. This gift must
have no repayment requirements.
* Borrowers Employer or Labor Union.
* A Charity or Not for profit organization that makes a contribution in the form of a down payment
with no repayment requirements.
* A Silent Second Mortgage, issued by a government agency.
We have all the information you need to apply for a FHA down payment program.
approval with HUD. However, HUD Does indeed maintain a list of HUD Approved down payment
assistance programs. The primary focus for HUD, regarding down payment programs, is insuring
that no secondary financing (2nd mortgage - excluding HUD Approved secondary financing) is
closed in conjunction with an FHA Insured mortgage loan.
HUD's General policy, as of this writing, is a program that is a registered 501C3 Charity, and
adheres to HUD's secondary financing guidelines, may act as a gift agent for purchase of a home.
Acceptable gift guidelines for HUD include:
* A Gift from a relative or family friend with documentable "clearly defined" interest. This gift must
have no repayment requirements.
* Borrowers Employer or Labor Union.
* A Charity or Not for profit organization that makes a contribution in the form of a down payment
with no repayment requirements.
* A Silent Second Mortgage, issued by a government agency.
We have all the information you need to apply for a FHA down payment program.
Elimination of Non Profit Down Payment Assistance On July 30, 2008, President Bush signed H.R. 3221 - Housing and Economic Recovery Act of 2008. Section 2113 of the bill prohibits seller-funded DPA (Down Payment Assistance) for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes took effect on Oct. 1, 2008. We provide this information for reference only. |
So, whether or not this is the first time, or the third time you've purchased a home, there are many
home buyer assistance resources available to help individuals and families with a down payment.
People just like you.
| Need Help? Ask the RTO PRO |
Down payment assistance programs help low-income, single-parent and minority families
get FHA mortgages. Grants from Ameridream, Nehemiah, or Genesis can make FHA loans
affordable.
We're an organization dedicated to increasing opportunities for individuals across the nation
who dream of the benefits and stability that property ownership offers. Our mission is quite
simple. We believe that Americans who dream of owning their own property deserve a chance
of property ownership. The Down Payment Assistance Program can help!
Whether you're a first time property buyer or simply starting over, we're there to help. Down
Payment Assistance is used by thousands of property buyers every month. Down payment
grants are compatible with some types of loans offered by lenders. Down payment
assistance helps more people own more property with no down payment.
get FHA mortgages. Grants from Ameridream, Nehemiah, or Genesis can make FHA loans
affordable.
We're an organization dedicated to increasing opportunities for individuals across the nation
who dream of the benefits and stability that property ownership offers. Our mission is quite
simple. We believe that Americans who dream of owning their own property deserve a chance
of property ownership. The Down Payment Assistance Program can help!
Whether you're a first time property buyer or simply starting over, we're there to help. Down
Payment Assistance is used by thousands of property buyers every month. Down payment
grants are compatible with some types of loans offered by lenders. Down payment
assistance helps more people own more property with no down payment.
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