Jun
28
How do you get grants for home loans?
By
I was wondering if anyone new how to get grants for down payment assistance for loans to purchase a home?
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1 Comments
July 2nd, 2010 at 7:08 am
There are two ways to get down payment assistance. One is through the government and the other is from seller-funded down payment assistance. The seller-funded down payment assistance is mostly used by people who are trying to get conventional loans. As the name implies, the seller pays for a part (sometimes even the whole amount) of the down payment. The problem here is that these types of assistance result to troubled loans, which is part of the reason why we are in the housing crisis we are in today. The new housing bill will eliminate this type of assistance, so you are now left with Government down payment assistance. The American Dream Downpayment Initiative can help you with your problem.