The Genesis Program
Loan Assistance Programs Canceled in 2008
Elimination of Non Profit 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 2021

The Genesis Program, also known as Grant America, is a non-profit down payment assistance program. It is operated by the Penobscot Indian Tribal Nation and technically qualifies as a government entity. Like other Native American tribal nations, the Penobscot tribal nation is HUD-approved to offer assistance, even to those living outside tribal jurisdiction. Grant America offers down payment assistance to low and middle income home buyers:
- Those with an FHA loan or are pre-approved for FHA mortgages qualify for the Grant America program.
- Grant America offers up to $34,000 in down payment assistance.
- This program is open to those with approved FHA loans buying new or resale homes.
- Program participation is not required to be included in the contract, but the seller must participate in the Grant America program.
Applying for a Grant America program is simple:
- Get pre-approved for an FHA loan or complete your FHA mortgage paperwork and get approved for a specific FHA loan amount.
- Find a home you want to buy and agree with the seller to draw up a contract.
- Tell your realtor you want to buy the home using Grant America.
- Contact your loan officer
- Your loan officer will complete a Grant America application on your behalf.
- Grant America wires funds to the bank the day of closing the deal (or the day before if you close in the morning).
Contact your loan officer if you have questions about how the program application process works. Remember, the seller must participate in the program. Your loan officer and realtor may be able to assist if the seller has questions about how to sign up.
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:


SEE YOUR CREDIT SCORES From All 3 Bureaus
Do you know what's on your credit report?
Learn what your score means.

FHA Loan Articles and Mortgage News
January 18, 2021 - 2020 was a newsworthy year for many important reasons, but for the housing market one of the biggest headlines involved volatility in mortgage loan interest rates for both government-backed mortgages like FHA loans and VA mortgages as well as for conventional lenders.
January 14, 2021 - Escrow accounts are used to hold the money you need to make a good faith deposit, pay property taxes, etc. The money is placed in the account and allowed to stay until the payment date. Escrow is basically a place to hold the money as it changes hands.
January 6, 2021 - First-time home buyers won’t notice, but some of the FHA loan paperwork typically dealt with during the home loan process is changing. The changes are part of a larger move dictated by something known as the Housing Finance Reform plan.
January 3, 2021 - If you are considering your first home loan, there are some great resources you should use in your planning and saving stage of the mortgage. No new borrower has all the information they need to buy a home at their fingertips in the early days.
December 30, 2020 - If you want to build a home on your own land or on land you buy in conjunction with your construction loan, you should know there are a variety of construction mortgages out there and not all of them are the same.