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FHA Down Payment Assistance Programs for 2019

FHA Down Payment Assistance Programs for 2019

fha down payment assistance

One of the many benefits of an FHA loan is the low down payment requirement of 3.5%. On the surface it seems to be a very low down payment, there are many home buyers who still need help to come up with the 3.5% down payment. There are FHA down payment assistance programs that can help to provide some or all of the down payment needed for an FHA loan.

FHA guidelines and HUD allow for FHA down payment assistance to come from a relative or close friend in the form of a gift. You can read our article on FHA gift funds for more info. However, when you do not have a relative to help, you can then reach out to a non-profit or government agency for FHA down payment assistance.

One of the many flexible aspects of FHA loans is that you can use multiple sources to come up with your down payment. This means you can get a gift from a relative plus two or more down payment assistance programs to come up with what you need to purchase the home.

It is important to note that most lenders do not get involved with helping you to find a down payment assistance program. That is something you will need to locate on your own or with the help of your local real estate professional. However, it would be beneficial to discuss your loan options with an FHA lender prior to securing down payment assistance funds. Click to get connected with one of our FHA lenders to discuss your options.

Required Documentation FHA Down Payment Assistance

Regardless as to what the source of your down payment assistance money is, HUD will require your lender to provide documentation detailing the source of funds.  The documentation must show that the borrower is fulfilling the minimum required investment (MRI) to qualify for an FHA loan. This is especially true when it is a government agency that is providing the down payment assistance.

In a letter from HUD to the lenders, they said in summary: “It has come to FHA’s attention that certain Governmental Entities may be acting beyond the scope of their authority by providing down payment assistance funds in a manner that would violate the FHA Handbook 4000.1 and the National Housing Act”. This is why, effective April 18, 2019 they are requiring these agencies to provide additional documentation.

Does FHA Down Payment Assistance Money Have to be Repaid?

When you receive FHA down payment assistance money, it is often considered a gift or a grant and does not need to be repaid. Keep in mind that with each program, there are rules and conditions tied to receiving the funds. Some of the assistance programs are actually a loan where the funds do need to be repaid at a much lower interest rate. Therefore, make sure you read through the documentation completely to fully understand what the requirements are and whether repayment is required.

How Long Will it Take to Get FHA Down Payment Assistance Funds?

Every down payment assistance program is different. Some are grants and other are loans. In both instances, you will need to apply for them and the response and approval times will vary. We suggest that you contact the agency and ask lots of questions including how long it takes to get the funds. You could be prepared to wait anywhere from 60-90 days.

List of FHA Down Payment Assistance Programs for 2019

Below are some examples of the many down payment assistance programs available today. This is just a small sampling that we researched here at FHA Lenders and it is not a complete list. It will be up to you to research these options and also find additional FHA down payment assistance programs. Then, weigh them against one another and determine which is best for you. We will do our best to keep this list updated for you.

Connect With a Local FHA Lender Who Can Help With Your Mortgage

Alabama Down Payment Assistance

Alabama Step Up Program

Mobile County Down Payment Assistance

Alaska Down Payment Assistance

Affordable Housing Advanced Loan Program

Alaska Home Opportunity Program

THRHA Down Payment Assistance Program

Arizona Down Payment Assistance

HOME Down Payment Assistance Program

HOME Plus Program

Pathway to Purchase Down Payment Assistance

Arkansas Down Payment Assistance

ADFA Down Payment Assistance

American Dream Down Payment Initiative

California Down Payment Assistance

CalHome Program

First Home Mortgage Program

GSFA Platinum Program

My Home Assistance Program

School Teacher Employee Assistance Program

Colorado Down Payment Assistance

Metro Mortgage Assistance Plus Program

Turnkey Mortgage Program

Connecticut Down Payment Assistance

CHFA Down Payment Assistance Program

Fairfield Homeownership Assistance Program

HouseHartford Homebuyer Assistance Program

Delaware Down Payment Assistance

New Castle Down Payment Assistance

New Castle County REVAMP Program

Florida Down Payment Assistance

Broward County Home Buyer Assistance Program

Escambia County Down Payment Assistance Program

Florida State Housing Initiatives Program

Hillsborough County Down Payment Assistance Program

Palm Bay County Down Payment Assistance Program

Orange County Down Payment Assistance Program

Georgia Down Payment Assistance

Gwinnett County Down Payment Assistance Program

Georgia Dream Home Ownership Program

Hawaii Down Payment Assistance

Honolulu Down Payment Assistance Program

Hawaii Home Ownership Program

Idaho Down Payment Assistance

Idaho Housing and Down Payment Assistance Program

Illinois Down Payment Assistance

Madison County Down Payment Assistance

Illinois Down Payment Assistance Program

Kane County Down Payment Assistance Program

Chicago Home Buyer Assistance Program

Joliet Home Buyer Assistance Program

Down Payment Plus Program

Indiana Down Payment Assistance

Gary Indiana Home Buyer Assistance Program

Lake County Home Buyer Assistance Program

Indiana Housing Authority Home Buyer Assistance Program

Iowa Down Payment Assistance

HomeStart Down Payment Assistance Program

Iowa Finance Authority Down Payment Assistance

Cedar Rapids Down Payment Assistance

Dubuque Home Buyer Assistance

Waterloo Down Payment Assistance

Kansas Down Payment Assistance

Kansas Housing Assistance Program

Kansas Housing First Time Buyer Program (KHRC)

CHWC Home Buyer Assistance

Kentucky Down Payment Assistance

Louisville Down Payment Assistance Program

Christian County Down Payment Assistance

Covington Home Buyer Assistance

Louisville Down Payment Assistance

Lexington Housing Programs

Louisiana Down Payment Assistance

Southern Mortgage Assistance Program

Louisiana Housing GNMA Program

Home Buyer Assistance Program

Shreveport Home Buyer Assistance

Kenner Home Buyer Assistance

New Orleans Home Buyer Assistance

Maine Down Payment Assistance

Maine Down Payment Assistance

Maine Home Buyer Programs

Maryland Down Payment Assistance

Maryland Down Payment Assistance

Massachusetts Down Payment Assistance

Massachusetts Down Payment Assistance Programs

Massachusetts Housing Assistance Programs

Michigan Down Payment Assistance

Michigan Down Payment Assistance Program

Michigan State Housing Authority

Minnesota Down Payment Assistance

Dakota County Home Buyer Assistance

Minnesota Housing Assistance

Mississippi Down Payment Assistance

Mississippi State Housing Grants

Mississippi Down Payment Assistance

Missouri Down Payment Assistance

Missouri Housing Development Contact

Montana Down Payment Assistance

Score Advantage Down Payment Program

Montana Board of Housing

Nebraska Down Payment Assistance

HUD Home Buyer Assistance Programs in Nebraska

Nevada Down Payment Assistance

Home is Possible Down Payment Grant

Home at Last Down Payment Assistance

New Hampshire Down Payment Assistance

Home Flex Plus Down Payment Assistance

New Jersey Down Payment Assistance

New Jersey Housing Department Down Payment Assistance

New Mexico Down Payment Assistance

First Down Assistance Program

HUD – New Mexico Home Buying Programs

New York Down Payment Assistance

Albany County Assistance Program

New York State Grant Program

North Carolina Down Payment Assistance

NC Home Advantage Program

North Dakota Down Payment Assistance

North Dakota Start Program

Ohio Down Payment Assistance

Your Choice Down Payment Assistance Program

Cuyahoga County Down Payment Assistance

Dayton Ohio Down Payment Assistance

Oklahoma Down Payment Assistance

REI Down Payment Assistance

Oregon Down Payment Assistance

Home Foundation Buyers Assistance Grant

First Time Home Buyer Program

Willamette Housing Assistance Program

Pennsylvania Down Payment Assistance

Keystone Advantage Assistance

Lancaster Home Buyer Opportunity

Rhode Island Down Payment Assistance

First Down Program

South Carolina Down Payment Assistance

SC Home Buyer Program

South Dakota Down Payment Assistance

South Dakota Housing Authority

Sioux Falls Home Buyers Assistance

Tennessee Down Payment Assistance

Clarksville Home Buyer Assistance

Great Choice Plus

Texas Down Payment Assistance

Texas Department of Housing

Travis County Down Payment Assistance

5 Star Texas Advantage Program

Home Ownership Across Texas Program

Home Star Program

Utah Down Payment Assistance

Salt Lake City Down Payment Assistance

Utah Department of Housing Assistance

West Valley City Grants

Vermont Down Payment Assistance

Vermont Assistance Programs

Manufactured Housing Assistance

Virginia Down Payment Assistance

Virignia Down Payment Assistance Grant

Home Ownership Down Payment and Assistance Program

Washington Down Payment Assistance

Tacoma Down Payment Assistance

Seattle Down Payment Assistance

Pierce County Down Payment Assistance

Opportunity Down Payment Assistance

Home Choice Down Payment Assistance

Home Advantage Down Payment Assistance

Arch East King County Down Payment Assistance

West Virginia Down Payment Assistance

Home Ownership Program

Movin’ Up Program

Wisconsin Down Payment Assistance

Easy Close Advantage Program

Wisconsin Down Payment Grant Info

Wyoming Down Payment Assistance

Welcome Home Wyoming Program

Home Stretch Down Payment Program

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