The days are numbered for Down Payment Assistance (DPA) being acceptable to FHA. Programs such as Ameridream and Nehemiah have been eliminated by the latest housing bill that just became law. Most mortgage companies will not allow FHA loans with DPA to be registered after the end of August. All loans with DPA have to be closed by the end of September. Anybody on the fence who has been pre-qualified utilizing DPA needs to move now or risk not having the program.
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