Thoughts on Down Payment Assistance Programs

Posted by Steve Dalton / Category:

Down Payment assistance is not down and out. FHA is still letting sellers assist the buyer by way of a gift through an authorized not for profit.

Call today for quick counsel on whether you should use this program to purchase a home for zero down.
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Too good to be true?
There are some excellent down-payment
assistant programs. There are also some dubious ones. It's important to confirm
that the nonprofit organization with which you're dealing is of the former
variety before making any commitments.

A good first step is to restrict
your dealings to nonprofits that belong to the Home Gift Providers Association
(HGPA). The HGPA members are required to adhere to a prescribed set of best
practices and a code of ethics. Its website includes a list of member companies.
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