I wanted to pass on an update as to the status of the down payment
assistance industry in regards to the Housing Bill about to be signed by
Congress and President Bush.  The bill will mention the elimination of DPA
programs.  However, we have been granted an extension until October 1st to
continue our fight against HUD.  What this means is that we are business as
usual and can continue to provide gift funds for you.   Phew! Buyers if you have thought about buying now is the time. It's possible these programs could go away for ever and so will the thought of 100% financing and no money for closing costs.

If you have been thinking about purchasing a home in Seminole or Orange County contact me today.

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For information on buying, selling, or auctions in Central Florida, Orange County and Seminole County, new construction, bank owned, short sale and foreclosure properties and Relocation services contact your Lake Mary Real Estate Agent Heather Joubran @ 407-810-6304 or hjoubran@remax.net.

Seminole County consists of Lake Mary, Sanford, Heathrow, Longwood, Altamonte springs, Winter Springs, Oviedo. Orange County consists of Orlando, Downtown Orlando, Baldwin Park, Windermere, Apopka, Winter Park, Maitland, Disney, UCF, East Orlando, Lake Nona.

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7 Comments on Down Payment Assistance Programs will be around a little longer

I certainly hope so.  I do a lot of first time homebuyers who need this program.   I also do the USDA Rural Program but it is only good for certain areas.  Many clients do not want the areas this program serves.  But it is 100% financing with no PMI.  It also does not matter about seller contributions.  A truly great product.  Buyer has to qualify via DO or DU. 

 

07/23/2008 10:57 PM by Tony Bolodar (AmeriNET Mortgage)

Thanks for the update on PDA programs. I had other commitments today keeping me busy and had not been updated.

07/24/2008 12:13 AM by Trey Affolter (Keller Williams Realty)

I have put many buyers in with 100% loans.  Not one has gone to a foreclosure.  Fortunately we will still have VA.

07/24/2008 03:57 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)

In October, Seminole County should have more down payment money from the State of Florida also. They ran out of money earlier this year.  Orange County still has money but they have put big restrictions on which properties can get it.

07/24/2008 09:31 AM by Rob Arnold, Florida Realtor / Investor (Sand Dollar Realty Group, Inc.)

Yeah Oct. 1 the new funds come out and the rules in August.

07/24/2008 07:21 PM by Orlando & Lake Mary Real Estate Agent, First Time Home Buyers & Luxury Houses (RE/MAX Central Realty)

Thanks for the update, there is a need for these programs.

Have A Great Day

07/24/2008 08:44 PM by DORIS FREEMAN Realtor Hendersonville-Nashville (RELIANT REALTY LLC)

Heather:  Nehemiah is the one I've used so many times in the past twelve months.  Glad to hear that their demise is on hold.  Perhaps there is hope.

07/25/2008 05:16 PM by Chris Ann Cleland, GRI (Long & Foster)

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Real Estate Agent: Orlando & Lake Mary Real Estate Agent, First Time Home Buyers & Luxury Houses (RE/MAX Central Realty)
Orlando & Lake Mary Real Estate Agent, First Time Home Buyers & Luxury Houses
Lake Mary, FL
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RE/MAX Central Realty

Office Phone: (407) 805-0611
Cell Phone: (407) 810-6304
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Heather Joubran's blog is for those looking to gather information on Central Florida and Real Estate including areas such as Orlando, Lake Mary, Baldwin Park, Lake Nona, Longwood, Seminole County. In her blogs you will find information on how the current and local market is doing for both buyers and sellers, where to find the next deal in new construction or how to get your home sold quickly. Better yet check out her websites www.centralfloridaluxuryestates.com or www.myfirstrealestate.com

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