Down Payment Assistance…Going…Going…

Posted by Shawna Ebersole | Categories: Buyers, Financing, Real Estate Investing

Wow, it is September 7th and I can’t believe that the end of Down Payment Assistance programs is right around the corner!

Yes, if you have been pre-approved for a loan program that allows the seller to pay your down payment for you, you absolutely have to close on the house BY THE END OF THIS MONTH – SEPTEMBER 30, 2008 or there’s a very good chance you’re not going to get the help you need!

This is very serious business.  Do you already have an accepted offer on a home?  If so, have you made sure that your contract specifically states that you are to close “on or before September 30, 2008″? 

Or even worse…have you been pre-approved for a down payment assistance program but have not even made an offer on a home yet?

If that’s the case, your window of opportunity may already be closed, but that is definitely a question for your specific lender. 

From what I’ve heard, you should have already had an accepted offer by the end of August for you to qualify for the program.  But again, please check with your lender for the specifics.  But the point is, if you were counting on the seller to pay your down payment for you…the clock is ticking!!!

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This entry was posted on Sunday, September 7th, 2008 at 6:14 pm and is filed under Buyers, Financing, Real Estate Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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