We have just heard that the D.C. Government-funded Home Purchase Assistance Program and the Maryland Bond Program's CDA loans have been indefinitely suspended for budgetary reasons. What does this mean if you are among those buyers who have been approved for zero-down loans by lenders using these products? You'll have to wait for the suspensions to be lifted or you can use more traditional forms of financing. The good news is that down-payment assistance programs like Nehamiah and Ameridream should be rolled back out pretty soon. Also, some lenders still offer zero-down loans that allow closing-cost assistance from the home sellers. I know that the PG County Association of Realtors and the Greater Capital Association of Realtors are lobbying pretty hard to get these programs up and running again. Efforts are also underway to pressure the D.C. Council to reconsider their decision.
Contact me by email or at 240-460-6318 for more zero down opportunities.
Agents spend most of their time cold callling, door knocking, direct mailing... I don't do any of that. I devote myself to serving the needs of my clients before, during, and after each transaction!
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