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  1. Rhonda,
    Doesn’t it feel like this goes against what the government is trying to do? It is hard enough for first time buyers to come up with the 3% with closing costs put in. I just have to wonder how adding that .5% and not allowing .75% of gift money is going to help anything? This is a perfect opportunity for a first time home buyer to get in and afford a home without the inflated priced and now HR 3221 is making it more difficult. It is so frustrating.

  2. Robert
    Oct 24 - 11:25 am

    I noticed that the seller-fund DPA programs have been banned effective on 10/01/08. However, this does not prevent buyers obtaining gifts from relative and charitable organizatins (if the gifts were directed to the buyer), and employer. Is there a list of charities that provide such gifts directly to the homebuyer and the gifts are immediately available? Thank you.

  3. samantha
    Sep 16 - 8:33 am

    We are planning a move there and want to buy a 3 or 4 unit property. We heard the downpayment is more for these homes – 15% down I think. Is that true? We want to live in one and rent the other 2/3.

  4. Mortgage Porter
    Sep 16 - 11:11 am

    samantha, FHA allows minimum down payments (3.5%-5%) for 2-4 units. You must occupy one of the units to qualify for the program. You can’t beat it.

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