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Old 09-05-2008, 03:22 PM
 
Location: Broward County
2,517 posts, read 10,201,422 times
Reputation: 1349

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That's pretty much the question.
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Old 09-05-2008, 04:00 PM
 
Location: Great State of Texas
86,068 posts, read 76,099,457 times
Reputation: 27635
Are you indicating that you have absolutely no money to invest in a home purchase ?
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Old 09-05-2008, 04:13 PM
 
Location: Arizona
214 posts, read 904,327 times
Reputation: 197
Sounds like it !!
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Old 09-05-2008, 04:15 PM
 
Location: Arizona
214 posts, read 904,327 times
Reputation: 197
From what I remember you cannot. You need to invest some of your own money into the home. MAYBE closing costs can be rolled in but probably not both
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Old 09-05-2008, 05:07 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,613,844 times
Reputation: 1008
Closings costs up to 6%

Down payment assistance will stop September 30th
Good luck trying to find a lender that hasn't cut it off already
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Old 09-05-2008, 05:11 PM
 
Location: Broward County
2,517 posts, read 10,201,422 times
Reputation: 1349
thanks. Thats what I thought.
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Old 09-05-2008, 06:00 PM
 
Location: Somewhere out there...
3,663 posts, read 7,899,183 times
Reputation: 3715
Yes you can. We just signed a purchase agreement today, closing on Sept.28. Zero down, the seller is paying all closing costs. The house listed for $294,500, we offered $300,000. They said yes, they will get about $270,000 at closing.
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Old 09-05-2008, 06:18 PM
 
Location: Tampa,FL
54 posts, read 247,908 times
Reputation: 18
Very few lenders are still accepting the DPAs, but I have a few that are still taking them up until the last minute. I think you have to come out of your pocket 500 for FHA if Im not mistaken, but that is it. You can also get down payment assistance from a relative if needed.
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Old 09-05-2008, 06:39 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,613,844 times
Reputation: 1008
DPA comes from the seller not from relatives.
DPAs never required 500...

Funds from relatives have to be gifted to the buyer.

Quote:
Originally Posted by davidhomes View Post
Very few lenders are still accepting the DPAs, but I have a few that are still taking them up until the last minute. I think you have to come out of your pocket 500 for FHA if Im not mistaken, but that is it. You can also get down payment assistance from a relative if needed.
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