As most of you already know, the first of October will bring the end of seller funded down payment assistance. What you might not know is that many lenders have stopped taking new loans with DPA already. So far: First Horizon, Suntrust, Flagstar, have stopped. Taylor Bean and Whitaker will not accept any after Sept. first. I'm sure that others will be throwing out deadlines between now and then.
The point is, if you have a buyer who is relying on seller funded DPA, they need to get their offer in asap. Next week may be too late. You might want to have a backup plan in place if they cant find or get an offer accepted in time. Gifts will be allowed still, as long as their not from the seller. Already, we are looking for and have found some traditional grant money, as long as funding holds out.