DPA Programs Ending
Effective with all FHA loans underwritten on or after October 1, 2008, Seller-Funded DPAs are prohibited.
In order to be excluded from this prohibition the final approval and sign off of the MCAW MUST precede October 1, 2008. All loans containing a Seller-Funded DPA must close by October 31, 2008.
If you have a buyer needing down payment assistance through one of the DPA programs and have any questions, please don’t hesitate to give me a call.
January 27th, 2010 at 4:17 pm
Although I knew this, I still found the post quite interesting.