Down Payment Money

Dated: 03/31/2014

Views: 732

The dollar amount of  down payment assistance will vary with each type of loan. Some programs have relaxed their policies somewhat. Others have very precise guidelines that must be followed.  

Down payment assistance can come from a variety of sources.  It can be gifted to the buyer. The seller may provide for it at closing.  Programs like  HOAP and CHAFA or for example, will require the buyer attend classes, but upon successful completion the programs will provide down payment assistance.
 Some programs assist only first time home buyers. A consumer is considered a first time home buyer if they have not owned a home in the last three years. Other programs will work with non first time home buyers as well as first time home buyers.
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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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