DPA - Will it stimulate the housing market?

Real Estate Sales Representative with Arzola's Asset Management

     DPA or Down Payment Assistance has been a major concern to many of us agents who work with first time home buyers or those individuals who require some assistance but may have a good credit back ground.  In a rural location selling homes, USDA Rural Housing has been very good to the first time buyer by now providing a 100% loan.  At this time this is the only program available that will help with down payment. 

      I have been hearing from some mortgage brokers that the DPA programs are trying to raise its head.  After being proided a link to check out the lastest information on DPAgroundswell.org, I wanted to share it with others who may be interested and haven't heard about i yet.

      This link http://www.dpagroundswell.org/index.cfm will take you to the DPA Ground Swell and give information regarding the down payment programs and the effect on the current economic conditions.  According to a senator in TX, there is minimal success rate in those individuals who put down their 3% and those who receive 3% in funding from non profit organizations such as Neimiaeh. 

      Check out what the information provides and send a letter to your congressman if you think we should keep the down payment assistance programs.

      I feel that these programs can provide a boost in the current real estate down turn and help to bring back buyer confidence.

Cathy Cooper-Arzola








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