Well you all know my progress so far with the FHA loan. The lender referred me to a program called "partners in charity" this organiztion give assistance to home buyers, they pay for your downpayment and closing cost and it doesn't have to be paid back, only condition of course is that you are preapproved for a loan program that accepts gifts, which FHA does, you also have to take a homebuyers course which is fine by me. I know this sounds too good to be true, you know the saying, but has anybody ever heard of this program or has anyone used this program?? I am hoping they do what they say, just trying to get some feedback. Thanks Mom
RE: Nope, it's legit Thanks Eboni, yes the programs seem similiar, of course PIC failed to mention that the seller has to go with the program, that may be a little difficult Mom
RE: Nope, it's legit Hi Mom ~ Programs like that exist all around the country. Things to ask about are interest rate, how long you have to live in the house, definitely compare cost using the program and doing it on your own. I don't know where you live, but here in the ATL area houses are going up all over the place. Most times the seller pays closing costs and i've seen a situation where if you used the Nemeiah program the seller decreased the amount of closing cost contribution. I'm not saying that's what your program will do, but do make sure you are getting the best deal. I don't believe anything is free, so if they are giving you money upfront ~ they must be getting it back some kind of way.
