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On July 30, 2008, President Bush signed the Housing and Economic Recovery Act of 2008 which prohibits seller-funded down payment assistance. Historical program information is only provided for reference on this website. These grants are no longer available.

FHA Loan Programs for 2022

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

Family Home Providers Program

Loan Assistance Programs Canceled in 2008

Elimination of Nonprofit Down Payment Assistance: On July 30, 2008, President Bush signed the Housing and Economic Recovery Act of 2008 which prohibits seller-funded DPA (Down Payment Assistance) for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes took effect on Oct. 1, 2008. We provide this information for reference only. These grants are no longer available.

NEW: Down Payment Assistance Programs for 2022

Family Home Providers is a non-profit affordable housing company offering down payment assistance to any family with steady employment and good credit. Under the Family Home Providers plan, those with an FHA loan are eligible for 3% of the final contract price of the home purchased with the FHA approved loan. Under this program:

  • The buyer makes an offer on an FHA qualified home.
  • The home must appraise for the sales contract price (or more).
  • Buyer and Seller must apply for the program.
  • Funds are intended for down payments. The seller pays closing costs.

One business day before closing on the home, Family Home Providers will wire the money to the closing agent. Your loan officer can set up a homeowner's insurance policy for your new home and open an escrow account, and you can close the deal.

Under the Family Home Providers down payment assistance program, your out-of-pocket costs for the down payment and/or closing costs should be under $1,000. Talk to your loan officer if you think you need to lower this amount. The loan officer can give you advice for saving the extra money, or re-arranging the closing terms to absorb some of the additional costs into your FHA loan where permitted. You may not be able to absorb all the closing costs of an FHA mortgage, ask your loan officer what rules may apply to you.

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.

Since this program is no longer available, we recommend that you get pre-approved for a low down payment FHA home loan.

Discontinued Down Payment Grant Programs:

RHO

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FHA Loan Articles and Mortgage News

FHA Seller Concession Rules and Possible Changes

October 4, 2022 - FHA seller concessions are limited to a total of six percent. When a seller contributes more, it results in a lowering of the sale price for purposes of calculating the FHA loan amount, dollar for dollar on all money contributed that exceeds the six percent limit.

What FICO Score Do I Need Buy A Home?

October 3, 2022 - First-time home buyer are likely to wonder about the kind of credit requirements needed for an FHA mortgage. According to Experian, there is no set minimum to buy a  house. However, that does not mean you won’t have any minimum FICO score expectations from a lender or the FHA.

HUD Announces Settlement in California Fair Housing Case

October 1, 2022 - Violations of the Fair Housing Act have a chilling effect on the housing industry when violations occur for renters trying to buy a home. Those who rent while home shopping have a hard if they must compete against a volatile housing market and illegal discrimination at the same time.

Disaster Resources for FHA Borrowers

September 30, 2022 - If you purchased a home with an FHA mortgage and you live in an area affected by a natural disaster, you may be eligible or become eligible for FHA loan relief. The Department of Housing and Urban Development publishes guidelines for lenders and borrowers who are affected.

FHA Loan Approval: How Much Depends on Credit Scores?

September 29, 2022 - Credit scores are only one part of your credit history and your loan officer will want to see the whole picture. What informs your loan officer’s decision to approve or deny your loan application for an FHA mortgage? Do a bit of basic research into how home loans work.