Comments on: FHA Loans: Down Payment Assistance Programs

By: sandrar

sandrar — Thu, 10 Sep 2009 13:37:05 +0000

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By: Loan modifications

Loan modifications — Sun, 19 Jul 2009 08:13:44 +0000

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By: FHA loan

FHA loan — Mon, 08 Jun 2009 10:10:34 +0000

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By: Scott

Scott — Wed, 28 Jan 2009 03:25:36 +0000

I don't think realtors know enought about FHA to present it properly. I am an advocate of it and it has made my real estate job much easier. Many people have the "hold your cash" mentality so a lot are comfortable with 3% down and higher closing costs. Scotts last blog post..Search Hudson County MLS

By: rob@taux hypotheque

rob@taux hypotheque — Wed, 12 Nov 2008 22:27:58 +0000

Can you still find down payments programs now that it is after october 2008. hmm

By: Loans Mortgages

Loans Mortgages — Thu, 14 Aug 2008 11:34:59 +0000

Hey,I think the DPA programs will have to be brought back to get us out of this mess. I do think they need to be revamped and based more on credit worthiness.

By: James Houston Homes

James Houston Homes — Wed, 13 Aug 2008 19:30:42 +0000

This was the biggest mistake of this legislative session which we all know has had many a blunders. I think the DPA programs will have to be brought back to get us out of this mess. I do think they need to be revamped and based more on credit worthiness. Even though the rates of default are much higher for those that implement this program it still allowed for many deserving families to get that foot in the door.

They better expand governmental down payment assistance programs or redesign these program to allow acceptance of them based on credit worthiness of the buyer or they will have put lower class working families further behind the 8 ball.

By: single mom

single mom — Tue, 12 Aug 2008 23:44:36 +0000

I was really appalled to hear about HR 3221 and the ramifications it holds. I do not believe these assistance programs were the cause of the current real estate market, or lack of it. I do not assume to know the intricacies of the mortgage business. What I DO KNOW is that thousands of families would have been eliminated from owning a home if it weren’t for the DPA programs including myself. I am about to close on my first home and will be eternally grateful for their assistance.

By: Merritt Noel

Merritt Noel — Fri, 08 Aug 2008 03:29:38 +0000

Hi Brent,

Interesting enough as soon as the H.R. 3221 was signed by President Bush a new bill H.R. 6994 was proposed to bring back down payment assistance. This new bill will reform the structure of down payment assistance. Basically, it will look at the risk of the borrower based on credit score. Personally, I think the down payment assistance through the FHA is a good thing. It brings buyers into the market that might not be able to squirrel away $10,000 for down payment. Unfortunately, this down payment assistance was viewed by many in Congress as a reason for the current housing downturn. Maybe it was the interest only 2/28 ARMs that were provided to did not have to document there income?? Whatever the cause I hope down payment assistance for FHA loans is repealed with the new bill.