Down payment assistance as we know it is going away. If you have a client who needs to buy but can't come up with the money, They only have 30 days to secure the property. The changes to the laws and guidelines that affect this programs prohibit the seller from contributing in any capacity to an assistance fund, that would benefit the buyer.
We still have the ability to assist homeowners using the tax credit to make up some of those costs. Ask me how.
Alissia
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I am a seasoned mortgage banker with over 10 years of experience assisting with foreclosure or distressed properties, and assuring financing for non-traditional borrowers. FHA/VA/GNMA/FNMA/FMMC cert.
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