What is Down Payment Assistance?

Down Payment Assistance in the form of a Zero Down Payment Home Loan, can dramatically help you with your down payment, however you can not use these with every loan program. The most popular loans for these programs are with the Federal Housing Administration (FHA). FHA allows 100% gift funds for your down payment and some allowable closing costs. The gift can be from any relative or can be collected through charitable organizations like Neighborhood Gold / The Buyer Fund. Another popular tactic, which can be used in a broader range of loan programs, is to borrow from your 401K. If you have a 401K program through your employer, you can withdraw your down payment amount without a penalty and pay it back over a specified period. The drawbacks are that your 401K account will not continue to grow as fast.

• Down Payment Assistance - The grant that is never repaid by the homebuyer!
  
  
• The Down Payment Assistance Market
  
  
• Educating the homebuyers and home sellers
  
  
• Educating sellers and real estate professionals