Quantcast

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 2023

The most recognized 3.5% down payment mortgage in the country. Affordable payments w/good credit.

Are You Watching Your Credit Score?

NOTICE: Some FHA mortgage lenders are substantially raising FICO score requirements during the Coronavirus crisis, even though FHA minimums remain unchanged.


- Improving Your Credit Score Has Never Been More Important -

Get started one
Get started two
Get started three
Get started four
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Choose a Loan Type

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

The Housing Action Resource Trust

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 2023

The Housing Action Resource Trust or HART program is a non-profit housing organization offering help to homebuyers who qualify for FHA "first mortgage" loans. A first mortgage does not mean "first-time homebuyers only," but rather those who are getting the initial mortgage and not applying for a second mortgage or home equity loan.

Those who have pre-approval for an FHA loan or have an approved FHA loan qualify for HART. This program is aimed at those who have the right credit and employment to qualify for an FHA loan but lack the money for a down payment and/or closing costs. To use the Housing Action Resource Trust:

  • Get an FHA-approved loan or pre-approval on an FHA loan.
  • Find a house and make an offer.
  • Tell your realtor you want to buy the home using the Housing Action Resource Trust program
  • Contact your loan officer, who applies to the HART program on your behalf.

As with other down payment assistance programs, the seller must agree to participate in the HART program. Your loan officer will let you know when funds are scheduled to be transferred in your name for the down payment and/or closing costs.

If your seller has not signed up for the HART program but is willing to participate, ask your loan officer and/or realtor for details on how the seller may register with the House Action Resource Trust.

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

SEE YOUR CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


GET STARTED

FHA Loan Articles and Mortgage News

FHA Home Loans: Improve Your Approval Chances

June 9, 2023 - If you are interested in building or buying a home, there is an FHA loan that can help. But if you have never done so, you may worry about your ability to be approved for the mortgage. What can help a borrower’s chances when it’s time for the lender to decide whether to approve or deny their loan?

HUD Takes Action Against Home Loan Appraisal Bias

June 6, 2023 - What steps are the Biden administration and the banks taking? According to a DoD fact sheet, Federal banking agencies are in the process of issuing proposed guidance on how financial institutions may integrate fair appraisal controls into their current processes for a start.

Buying Your First Home with an FHA Loan

June 3, 2023 - If you’re thinking about buying a home this year and you need to save more money upfront on your down payment, an FHA mortgage is an option to consider thanks to its minimum 3.5% down payment. There are other perks to FHA loans, as we’ll discover in this article.

Anticipating FHA Loan Costs When Building a Home

June 1, 2023 - If you use an FHA One-Time Close construction loan to build a house from the ground up and don’t have a plot of land, you’ll need to purchase the land in conjunction with the construction loan. It’s an expense that may push up the cost of the loan, but a necessary one.

FHA Loan Down Payment Facts

May 30, 2023 - Knowing the down payment rules before you start saving for your home loan may make the entire process more efficient, especially if you know you’re required to give the lender the sources of your down payment money and document it accordingly.