down payment assistance: Punctual Payment Program: A Worry Free FHA Loan Reimbursement - 10/29/08 08:04 PM
Punctual Payment Program: A Worry Free FHA Loan Reimbursement
Here is another option to FHA Alternatives to Down Payment Assistance programs that went away. I wrote a blog last week talking about the alternatives here
What is the Punctual Payment Program?
The Punctual Payment Program in a nutshell rewards home buyers in a reimbursement program for on-time payments.
The program is hosted by the Rainy Day Foundation that began in May 2006.
The website can be found here http://www.rainydayfoundation.org.
The fee for this program is $499.
How does the Punctual Payment Program work?
In a nutshell … (15 comments)
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down payment assistance: FHA Down Payment Assistance Program Alternatives - 10/23/08 08:10 PM
The Bad News…DAPS Going Away The Housing and Economic Recovery Act of 2008 eliminates seller-funded down payment assistance programs (DAPs) as an acceptable source of funds for FHA loans for all lenders. Officially, the Act eliminates seller-funded DAPs on FHA loans with final credit approval issued to the borrower on or after Oct. 1 2008
But There is Good News… FHA Alternatives
FHA Cash to Close Savings Plan FHA Sweat Equity FHA Bridal Registry Account 1st Time Home Buyer Tax Credit City Free Grants / Municipal Programs State Programs / V.H.D.A USDA Rural True 100% Loans FHA Cash to … (30 comments)
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down payment assistance: Positive Spin on Down Payment Assistance Programs Gloom - 07/29/08 07:56 PM
Hud has been playing the Grim Reaper on the Down Payment Assistance Programs lately.
As most are aware the Down Payment Assistance Programs has helped many homeowners in the past acquiring down payment assistance for government loans that required a minimum of 3% down.
Recently HUD has made it clear that the Ban will take place on October 1st 2008 eliminating DAP's.
Another change taking place is the increase from the minimum 3% down payment required to ---> 3.5% now. The increase also will start on October 1st 2008.
The Ticking Time Bomb
Now nothing is … (16 comments)
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