Do you still have any current buyer’s in need of FHA seller credited down payment assistance? There has been much confusion lately regarding the timeline of when these future homeowners need to have their down payment assistance in place and registered. Here is the current timeline I am using for all seller credited down payment assistance.
Items Needed by September 30, 2008
• Executed Purchase Contract
• Executed Nehemiah Participating Home Agreement
• Completed Loan Application and Pre-Approval
• Loan Registered with the Investor/Underwriter
• Final Loan Approval Received from Underwriter
In order for any seller credited down payment assistance loans to fund they need to close on or before October 20, 2008.
Monday, September 8, 2008
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