FHA Down Payment Assistance Programs

Dear DPA Supporter,

As your Nehemiah Area Manager, I am working enthusiastically to create a groundswell of support in your community for H.R. 600 - FHA Seller-Financed Downpayment Reform Act of 2009 and downpayment assistance (DPA) reform.

Breaking News: Down-payment aid program resurfacing
In case you haven't seen the article in the February 7th edition of the Los Angeles Times, which speaks to H.R. 600's reforms that specify new standards for an effective program that will improve performance and not cost the taxpayers or the FHA insurance fund a dime. Read the entire Los Angeles Times article

Key Points of DPA Reform

• Congressional Budget Office (CBO) stated that H.R. 600 is equal to H.R. 6694 as it relates to seller-funded DPA and requires no changes to last year's estimate. Download the complete CBO Cost Estimate
• H.R. 600 strengthens DPA with the following reforms:
  • Improved Loan Performance: borrowers FICO score must be above 620 to qualify for DPA
  • Protection Against Appraisal Inflation: bill includes stiff penalties for appraisal abuse
  • Homeownership Education: increases opportunity for sustainable homeownership and overall long term financial success
  • Regulation for DPA Providers: ensures responsible standards for DPA processing and education
  • Reformed DPA Costs Nothing: mortgage insurance premiums are set to ensure that DPA pays for itself. NO COST TO TAXPAYERS!

Report Finds DPA Created Big Economic Benefits

• $38.6 billion in economic output
• $4.6 billion in property tax revenues
• $150 billion in homes sales
• 235,000 jobs!

Download Waste/Fountain Study Summary

Download Economic Impact Fact Sheet

Get Involved! Join the DPA Reform Movement
Your Senators and Congress member need to hear from you and your associates about the importance of DPA in your area. Tell them to pass H.R. 600 or attach it to an upcoming housing bill.

Top 5 Ways to Make Your Voice Heard

•1. Write a letter to your elected officials in support of H.R. 600

•2. Contact your elected officials district office by telephone

•3. Activate network of friends/associates (spread the word)

•4. Organize and facilitate a rally in your community

•5. Contact me to discuss other grassroots campaign strategies

Please feel free to forward this email to anyone that may be interested in DPA reform!

Donny Jones

Office: 916.231.5262
Cell: 916.384.8888
djones@getdownpayment.com