Down Payment Assistance

Effective October 1st, 2008 Non-Profit Down Payment Assistance Programs were ELIMINATED:


President Bush signed H.R. 3221 – Housing and Economic Recovery Act on July 30th, 2008. Section 2113 of the bill prohibits seller-funded Down Payment Assistance for loans backed by the FHA. Before this bill was enacted the seller was able to contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan.

Bargain Network Homes offers links to programs that may assist potential homebuyers to obtain a home.

The Home Program

Provides grants to States and local governments called "PJs" (participating jurisdictions. PJs use their HOME grants to fund housing programs that meet local needs and priorities.

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Provides funds to non-profit organizations to buy homes to fix up for volunteer-based homeownership programs for low income families.

HOZ (Homeownership Zone)

Homeownership Zone is a community revitalizing program that encourages communities to reclaim vacant and blighted properties to increase homeownership by creating neighborhoods of new single-family homes.

HUD

Provides Information about HUD’s grants and loans. Most of these funds are for local governments.