Down Payment Assistance Programs
July 10th, 2008 • Related • Filed Under
There’s an article in today’s Arizona Republic that discusses down payment assistance programs — the fate of which lie in the hands of the Senate and Congress.
These programs have their supporters, and their critics. My feelings are mixed. There is little question that they can help some folks get into a home who couldn’t otherwise. On the other hand, it appears the default rate is higher on loans where down payment assistance is used.
Personally, I hope they stick around, as generally speaking they are more good than bad.
Great post and so true! The rules are different in a declining market and it's so hard for homehowners to ...
Great insights on first hand knowledge on what sellers are feeling. I will look forward to you updates and more ...
Welcome to the wide world of blogging Michele! 
The only time when these programs are abused are when sellers inflate the cost of their homes to cover the ...
I don't have a problem with DPA loans. Sure, they're a little more risky... so that's what mortgage insurance is ...
Comment by Justin McHood on 10 July 2008:
Well said!
I have mixed feelings about DPA’s. I am sure that I am unsure — but generally speaking they probably do “more good than bad”.
It will be interesting to see what the lawmakers do in the near future…
Comment by Doug Quance on 10 July 2008:
I don’t have a problem with DPA loans. Sure, they’re a little more risky… so that’s what mortgage insurance is for.
I would not want these programs to be killed. They fill a need.
Comment by Shailesh Gh imire on 10 July 2008:
The only time when these programs are abused are when sellers inflate the cost of their homes to cover the extra cost. This needs to be addressed. Other than that - for the rest of us who don’t have rich uncles or income where we can have $12,000 saved up for downpayment on a decent house - it’s not a bad deal at all.
Pingback by Arizona Mortgage Guru » FHA Mortgage Insurance Rates Now Risk Based on 13 July 2008:
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