Family Home Providers, a non-profit housing company, offers down payment assistance for families with steady employment. This opens up the opportunity of homeownership to many families that could otherwise never purchase a home.

GET an FHA LOAN

What is an FHA Loan?

FHA Loans

FHA Refinance

Obama Mortgage

Hope for Homeowners

Streamline Refinance

FHA Foreclosures

FHA PROGRAMS

FHA Fixed Rate

FHA Adjustable Rate

Graduated Payment

Growing Equity

Energy Efficient

Condominium

FHA GUIDELINES

FHA Limits

FHA Closing Costs

Mortgage Insurance

Debt to Income Ratios

FHA Credit

FHA Requirements

Down Payment Grants

FHA Loan Questions

FHA GRANTS

AmeriDream

Nehemiah

HART

Partners in Charity

Family Home Providers

Futures Home Assistance

Genesis/Grant America

Newsong

Responsible Home

Quickdown

American Family

ABOUT OUR COMPANY

About FHALoan.com

Corporate Contacts

Privacy Policy

FHA Loan Site Map

Family Home Providers

Family Home Providers is a non-profit affordable housing company offering down payment assistance to families with good work histories and appropriate credit. The terms of the Family Home Providers program state those eligible for FHA loans may apply for 3% of the final contract price of the home.

Requirements:

• The home must appraise for the sales contract price or higher.
• Both buyer and seller must apply for the program.
• Funds must be used for the down payment.
• The seller pays closing costs.

Under the Family Home Providers down payment assistance program, out-of-pocket costs for down payment and closing costs should be less than $1,000. Your loan officer can provide some advice on lowering this amount if you feel the remaining expenses are too high. Some buyers may be able to re-arrange the closing terms to help absorb some of the expenses into an FHA loan. Ask your loan officer for further details.

Most down payment assistance programs require the seller to pay a fee. This payment is for services rendered and is not allowed as a tax-deductible charitable contribution. Ask your loan officer for further information if you have questions.

Additional Information:

Since this program is no longer available, we recommend that you get pre-approved for a low down payment FHA home loan.

FHA LOAN QUESTION # 2   [ -more FHA questions- ]

Q: Is an older home a better value than a new one?

A: There isn't a definitive answer to this question. You should look at each home for its individual characteristics. Generally, older homes may be in more established neighborhoods, offer more ambiance, and have lower property tax rates. People who buy older homes, however, shouldn't mind maintaining their home and making some repairs. Newer homes tend to use more modern architecture and systems, are usually easier to maintain, and may be more energy-efficient. People who buy new homes often don't want to worry initially about upkeep and repairs.

First time home buyers purchasing a home with an FHA loan or going through a HUD-approved charitable agency can use their 2009 First Time Homebuyer's Tax Credit to make their downpayment. Down payment assistance programs allowed the seller and charitable organizations to contribute towards the closing costs and down payment of FHA loans.