FHA Cash
Down Payment Grants
Down payment
assistance and community redevelopment
programs offer affordable housing
opportunities to first-time homebuyers,
low-income and moderate-income individuals
and families who wish to achieve
homeownership.
Many of these programs are no longer
available with the passage of the Housing
and Economic Recovery Act on July 30,
2008. However, gift monies from
family members and government backed bonds
and grants are still available.
Elimination of Non Profit Down Payment
Assistance
On July 30, 2008, President Bush signed
H.R. 3221 - Housing and Economic Recovery
Act of 2008. Section 2113 of the bill
prohibits seller-funded DPA (Down Payment
Assistance) for loans backed by the
Federal Housing Administration. Prior to
this bill, the seller could contribute up
to 6% to the buyer to cover either a down
payment or closing costs on an FHA loan.
The changes are effective October 1, 2008.
Would you
like more information about how we can
help you?
Please
Apply Online Now complete our
Request More
Information form or you may also
call and speak directly to a Loan
Specialist, Toll-Free at 1-800-238-9202
Fax or mail to:
Financial
Services Unlimited Inc.
11950 SW 2nd St.
Suite 300
Beaverton, OR 97005
(503) 626-8910 (Fax)
Toll-Free at 1-800-238-9202
