Special offer

Down Payment Assistance Programs

By
Real Estate Agent with Keller Williams

"The Housing and Economic Recovery Act of 2008 will eliminate seller-/ interested party funded down payment assistance programs (DAPs) on FHA loans effective October 1, 2008. The act prohibits any portion of the required borrower investment to come from: 1) the seller, or 2) any other interested party that benefits from the transaction, or 3) any third party entity that is reimbursed directly or indirectly by the seller."

 

This means all you buyers hoping to get down payment assistance programs (0% financing) better get those offers in!

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