I'm (trying) to buy a home within the next few weeks. Stuck in this mortgage/IRS headache, but talking with a friend he told me to check out these down payment assistance programs. He said some will offer up to 10% down on the home for you as a charitable donation... WHAT??!?!?!
Im checking out a few on
FHA.com but I see this notice that says:
Quote:
Elimination of Non Profit Down Payment Assistance
On July 30, 2008, President Bush signed H.R. 3221 - Housing and Economic Recovery Act of 2008. Section 2113 of the bill prohibits seller-funded DPA (Down Payment Assistance) for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes took effect on Oct. 1, 2008.
We provide this information for reference only.
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Anyone know if these services are still available?