The Federal Housing Administration (FHA) recently altered its guidelines as a result of the Economic and Housing Recovery Act of 2008. One significant change was the elimination of the seller-funded down payment assistance program. Often used by builders through non-profit organizations such as Nehemiah and Ameridream, this program enabled the seller of a property (either [...]
Changes to FHA Financing––Understanding HR 3221
Changes to Seller-Funded Down-Payment Assistance Programs
Talk to your lending partner regarding loans utilizing seller-funded down-payment assistance programs like Nehemiah. While these programs are being eliminated, there is still time for buyers to take advantage of this home financing option. My preferred lenders (NO, I don’t get paid by them for an introduction!) know how to [...]
Are you qualified to take the $7500 Tax Credit for Home Buyers?
Holy cow! If you’re a first-time home buyer, or you haven’t owned a home for three years, you may qualify for latest $7500 tax CREDIT (not deduction). Read on!
The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives [...]
Home Financing Assistance Available in Provo, UT!
Home buyers want to get into homes. Financing has become more difficult to obtain because lenders have tightened their requirements and underwriting guidelines. (What a great idea! Require borrowers have the means to repay a loan…) I was asked by a buyer this week if there are programs to allow them to get a 100% [...]
