Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.
Lender rating
Since January 2009
This is going to be an unpopular answer, but it is what it is.
If you cannot afford the 3.5% FHA requires down, you should not be buying a home. Also, if you don't have a relative to "gift" you the funds for the down payment, you REALLY should not be buying a home. What happens when you stumble and have no reserves and no one to even help you?
3.5% is a minimal amount of money to save, if you can't save that much, you should rent; water heaters and new roofs are not your responsibility that way.
$.02
Downpayment assistance programs are still available for FHA loans. The only program that is no longer permitted is seller-assisted down payments.
You can still use funds gifted from relatives, employers, churches, non-profit organizations and government agencies as sources for down payments.
You may also want to check out HUD's website at http://www.hud.gov/local/ca/homeownership/buyingprgms.cfm and the California Housing Finance Agency at http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm
advertisement
... and, it's free and anonymous
Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy
FHA Loan with Downpayment Assistance Programs???
sponsored by
CertPharmT15
Contributions: 7
View full profile
If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.