Quickdown provides down payment assistance to home buyers who qualify for approved or pre-approved FHA home loans.
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FHA Loan Rates
May 17, 2008

30 Yr. Fixed
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No Points
Low Interest
Best APR

15 Yr. Fixed
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No Points
Low Interest
Best APR

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FHA Facts | FHA Loan Types | Down Payment Grants

FHA Down Payment Grants
-- Quickdown

Quickdown is a program that works with non-profit agencies to provide down payment assistance. Home buyers who benefit from Quickdown are those who qualify for approved or pre-approved FHA home loans. This program is designed for those who want to buy a home but are "cash challenged" and can't afford the down payment. Quickdown Home buyers:
  • Can't afford to purchase a home without down payment assistance
  • Must use assistance funds for down payments only.
  • Are often first-time home buyers or those who can't qualify for a conventional mortgage.
Quickdown requires the seller's participation, but does not work in direct contact with the seller. Ask your loan officer and/or real estate agent on how to get a willing seller involved in the closing of a home purchased with an FHA loan with assistance from Quickdown. If you have found a seller familiar with Quickdown:
  • Make an offer on the home you wish to buy.
  • Once the offer is approved, contact your loan officer and ask about using the Quickdown assistance program for the down payment.
  • You loan officer applies to Quickdown on your behalf.
If you are interested in using Quickdown, your loan officer must file an application for pre-approval, so it's important to decide on using this down payment assistance program as early as possible to avoid delays in processing and getting your funds in time to close the sale using your FHA home loan.

Down payment assistance programs generally require the seller to pay a fee to participate. This fee is considered a payment for services rendered and not a tax-deductible charitable contribution.

For more information on how the grant program can be beneficial to you, you must be a qualified home buyer under the fha home loan program. We recommend that you first get pre-approved for an FHA home loan and then your lender will assist with getting you educated on the down payment program that is right for you.



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