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 2022

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.

Responsible Home Ownership

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

The Responsible Home Ownership program is run by a non-profit organization called Community Housing and Development Corp. The Responsible Home Ownership program offers down payment assistance to low-income individuals who have steady income and good credit. You may qualify for this program if you meet the following criteria:

  • You meet the low-income criteria for this assistance program.
  • You are pre-qualified for an FHA home loan, or are approved for an FHA loan.
  • You are purchasing a home in the United States (as opposed to "offshore").
  • You purchase a "participating home".

The participating home requirement means the seller must sign the "Participating Home Agreement". Check with your loan officer and/or realtor to learn how to get your seller involved in this program if the seller is not already participating. Funds from this program can be used for both closing costs and down payments.

This down payment assistance program is much different than other programs in one major way; it is not limited to owner-occupied single family residences. The terms of this program allow down payment assistance for multi-family homes and even commercial purchases.

Some of the purchases you can make using down payment assistance from the Responsible Home Ownership program may fall outside the bounds of what you are permitted to buy with an FHA loan. Check with your loan officer if you have specific questions about your participation in this program using an FHA-approved 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.

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 Loan Questions and Answers: 5 Things to Know

May 10, 2022 - Buying a home involves many small details and first-time homebuyers often have to resort to checklists or other means to keep everything organized. What do you need to know at the start of your first home buying journey?

Is an FHA One-Time Close Construction Loan Right for You?

May 8, 2022 - Some people aren’t sure which home loan product is right for them. In some cases it’s a question of supply and demand; if you seek an FHA manufactured home loan in New York City you are likely to be disappointed. But what about less obvious issues?

How to Compare Home Loan Offers

May 7, 2022 - Would you buy or rent the very first property you viewed in the house-hunting process? Few people would take the first property available without comparing it to others. Why would you treat the mortgage portion of your home ownership journey any differently?

Fair Housing Month 2022 Ends but the Fight Continues

May 6, 2022 - Housing discrimination persists in America despite federal laws requiring it to end; the Department of Housing and Urban Development encourages all who may have experienced some form of discrimination in the housing process to come forward.

Things to Consider Ahead of Your FHA Home Loan Application

May 5, 2022 - What do you need to consider in the planning stages of your FHA home loan? Some may not be sure how long it takes to save up for a down payment and closing costs, or what it takes to prepare credit ahead of a home loan.