buyer: Down Payment Assistance Programs
- 04/19/07 09:58 AM
Over the past couple years, homebuyers have been able to take advantage of Down Payment Assistance Programs, such as AmeriDream, Neighborhood Gold and many others. How do they work? For example: a homebuyer is purchasing a home in Tampa for $200,000. As a first time buyer, they didn't already have established credit scores, so their lender was able to qualify them for an FHA Government Loan. However, this loan requires a 3% down payment, which our Tampa buyers don't have to put down on their new home. With the down payment assistance program, the seller could "gift"the 3% down payment plus an administration … (21 comments)
Over the past couple years, homebuyers have been able to take advantage of Down Payment Assistance Programs, such as AmeriDream, Neighborhood Gold and many others. 
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