That goes for neighborhood assistant programs too!

Assuming that this is investment, I would suggest that you review the merits of a rehab loan (whether it be conventional or hard money)---programs would allow you to finance 100% of the purchase + 100% of repairs + 100% of closing costs (and in some cases, 100% of the mortgage payments) and you could use the down payment as cash reserves.

I am a broker, but not affiliated with any traditional real estate company.

This is really just a forced savings program.

In trying to go from in-house solutions to vendor products, they would go for huge, highly complex programs.

I've recently applied for the First Time homebuyer down payment assistance program with a local city here and had a few questions on how those programs are ran, if anyone is familiar with them.If everything goes through, i will be eligible to receive $25-30K in down payment assistance (as a forgivable second mortgage) to buy a property within that city.

If you are interested, just stop by your local small airport and check out their programs.

You might have taken out a 15-year loan to get the loan paid off in half the time, and might even be making extra payments, or perhaps signed up for one of those biweekly loan programs, all to enable you to get rid of the mortgage just as quickly as possible.You do all of these things, of course, for a very basic and deep-rooted reason: because your parents taught you that you should never a have mortgage, and the key to the American Dream is to own your home outright.Yet, a Big 30-Year Mortgage Is BestAlthough your parents’ advice once made sense, today it is completely wrong.

All the low fico programs just that I know about just adjusted again.

But they are of regular people and their flips, not salesmen selling overpriced programs.