Down Payment Gifting Programs Update

Quick update here

If you have a home to sell, or are looking to buy in the Lake Powell area, it might be a good time to consider use of down payment assistance programs. With FHA requirements getting tighter, accepting a full price offer on your home and utilizing the down payment assistant programs, like Nehemiah and Ameridream, look to be a good alternative to taking a lower price offer on the property.

While these programs don’t work for all folks, some qualified FHA buyers will qualify for down payment assistance. The funds are considered a gift swap if they are funded by the builder or the home seller. These are not limited to first time homebuyers such as other programs are.

Ie. For a seller, accepting a full price offer, then funding the six percent maximum to one of the programs for the homebuyer, still nets the same amount of money at closing, as if taking an offer six percent lower than asking. Big plus here – it helps the deal close and get the new owners in the home.

Nehemiah Corp.

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