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FHA Loan Update
August 25th, 2008 10:39 PM

Just a little FYI -

I just recieved this email from a trusted mortgage broker:

Elimination of seller-financed down payment assistance (DPA) programs
Applies to FHA loans
Due to recent Congressional action that eliminated this product, all FHA loans with seller-financed DPA must close and fund by September 2, 2008.
As a reminder, all other down payment assistance, grants, and gift options previously allowed by the FHA are still acceptable.

There is also an FHA loan that with gift funds called "Nehemiah". This program, I have been told will end Sept 1st. Pretty much the same as the DPA program.

For those of you that need this assistance, please contact your mortgage broker today and let me know how I can help you get into that new home with little to no money down.

 

Posted by Terra Anderson on August 25th, 2008 10:39 PMPost a Comment (0)
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