Genesis Program for Buyers

By
Real Estate Agent with Beach & Luxury Realty, Inc.

I am wondering if anyone has heard of and or used the Genesis Program. My very brief understanding is that it is a National Down Payment Assistance Program.

One of my agents asked me about it and I had not heard of it and have never used it. I would like to know if any realtors or mortgage brokers have used this program. If so, I would like to know both the positive and negative experiences.

Thank you in advance for your comments.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
down payment assitance program

Spam prevention
Show All Comments
Rainer
26,815
Wayne Miller
San Diego, CA
Cris, I'm not familiar with this program but I did receive an email from a mortgage company that specialize in this area.  I'll forward it to you. 
Oct 06, 2007 07:41 AM #1
Rainer
234,150
BLR Guy
BLRGUY(Beach & Luxury Realty Inc) - Saint Pete Beach, FL
I don't know much about this program either...but maybe one of our mortgage broker friends out there might.
Oct 06, 2007 10:50 PM #2
Rainer
17,423
John Severino
Nuline Funding, Inc. - Westlake Village, CA

Hey Chris.  We use it here in California.  The best part is they have a very low cost for Home Builders.  We have a project here that uses the foundation.  He gives the new buyers 15k for down but he funds it to the foundation and they give the Borrower the same amount in Downpayment Assistance.  They only charge the developer 250.00.  It's great and the none FHA lenders seem fine with it.

John Severino

Oct 08, 2007 01:21 PM #3
Anonymous
Anonymous
John...thanks for the information. I will pass it along to my agent. It's always good to hear someone using a program like this and having success.
Oct 08, 2007 03:16 PM #4
Rainer
18,257
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

 

Cris  would like to hear more about this assistence program.

when you find out more about it , share more with me on the requirements....

with tightening about "gifts " to buyers for downs will this have to go in addition to a 'real down' or?

whatever -if it can help get even  some first timers into a home,  that will help with move up buyers trying to sell  too!

if its tied to new homes only- that'll work too,  and  clear some vacant lots off the inventory...

Oct 08, 2007 03:22 PM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
74,030

Cris Burlew

Broker ~ St Pete Beach FL Real Estate
Ask me a question
*
*
*
*
Spam prevention