dpa: FHA Purchase myth #4 - Down Payment Assistance is gone - 01/18/09 06:04 AM
FHA Purchase myth #4 - Down Payment Assistance is gone. 
There is much confusion about the recent demise of FHA seller funded Downpayment assistance.  Many Homebuyers and Realtors alike are confused by the press coverage.  
You can still receive credit for closing costs, recurring & non-recurring, from sellers with FHA Loans.
In fact, the seller can pay up to 6% of the purchase price towards your buyers closing costs, prepaid items, repairs, etc and FHA is OK with this.  
So how does this differ from Seller Funded Down Payment Assistance (DPA) (the ones that are not allowed)?
FHA Loans require a minimum cash investment … (0 comments)

dpa: FHA scores again for home buyers - 04/02/08 05:39 PM
FHA Loans guaranteed by HUD are fast becoming the loan of choice again for first time homebuyers and also those buyers who do not want to put 5, 10 or 20% down payment on their new home (there is good reason to keep your assets in other areas, that will be another post, or call me to find out why). The FHA loan requires just 3% down payment. Sellers can contribute to down payment and closing costs as well, it just requires the use of one of our Down Payment Assistance programs to administer the transfer of funds. (HUD requirement). So … (0 comments)

Brian Skaar, VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480 (VanDyk Mortgage -  VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender) Rainmaker large

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