FHA and Down Payment Assistance
Posted in Mortgage Info by Karen Rhodes on October 1st, 2007 Just got off the phone with one of my lender friends. She has just gotten notification that FHA will no longer accept
down payment assistance progams effective Oct 31. The most well known of these programs was the AmeriDream and the Nehemiah Programs.
What does this mean? Well, it means that those people who do not have down payment money will not be able to get an FHA loan. Unfortunately, that will leave no option for a lot of people except to continue to rent.
