Elizabeth R. Elstien, Realtor turned real estate writer & educator (Self Employed at Elizabeth R. Elstien: Write, Research, Edit, Sell, Educate)

Spam prevention
Ambassador
3,403,890
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Yes that was popular back in the early 2000 to maybe 2005 in Phoenix area. I haven't seen any programs like it since.  We had a couple of transactions back then using down payment assistance and all went smoothly. If I remember correctly there were 'term's attached to it such as buyers couldn't sell the house with 10 years or they had to pay back gift on a prorated basis.and they had to take a class.

Feb 04, 2017 01:30 PM
Rainmaker
612,606
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Yes I do remember one of my agents having buyers getting "free" money...I also learned that they either knew someone who was pushing the paperwork through or that they were not honest on the application.

I have worked with many home buyers who work 2nd and 3rd jobs (bless them) just to get into a home and I find it really irritating that there are people out there getting "free" money.  Nothing in life is free...

Do you know what happens to people that need "free" money in order to get a house?  They get foreclosed on, because they either really can't afford it or they have not changed their lifestyle.

Eve

Feb 05, 2017 07:03 AM
Rainmaker
1,045,215
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

hmm no I haven't however I will be reading and following the answers here with great curiosity

Feb 03, 2018 07:37 PM
Ambassador
2,609,088
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  I used Tallahassee Lenders' Consortium to help with a Buyer several years ago.  They provided a "silent second mortage" for the down payment. 

     Sorry that the I cannot provide the details of that transaction, but you can visit the TLC website to see how they assist buyers, help persons in foreclosure, and offer other services.

  

Feb 04, 2017 02:58 PM
Rainmaker
142,746
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Prince George's County MD offers closing costs and downpayment assistance programs often.  The current one is "Pathway to Purchase" and the programs have been very successful.  The buyers have experienced very little if any problems with the program as long as the participating lenders get the required documents in on time.  As long as buyers remain in the home for 10 years, the grant is forgiven.

Feb 04, 2017 02:32 PM
Rainmaker
870,828
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I had a buyer use the Nehemiah program years ago, but the program was shut down around 2008. The transaction went ok and I don't recall any glitches. http://www.fhaloan.com/nonprofit_nehemiah

Feb 04, 2017 01:32 PM
Rainer
408,704
John Duke
Staging By John - Burlington, NC
We stage your home to show it at its best!

I am new here and not that familiar with what you are asking sorry

Feb 28, 2018 07:05 AM
Rainmaker
5,329,854
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We still have buyer assistance through the City of Aurora.  HOAP.

Feb 08, 2017 02:51 PM
Rainmaker
5,767,876
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Elizabeth,

No it has not happened to us.

Feb 05, 2017 09:10 PM
Rainmaker
3,385,252
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Here in NH we have NH Housing which does offer grants to assist with down payment. 

Feb 05, 2017 03:09 PM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Feb 05, 2017 01:21 PM
Rainmaker
1,430,961
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Never heard of that.  I know lenders have issues around gifts from family for the down payment.  Would be interesting to see how this works.

Feb 05, 2017 12:11 PM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I believe this is all very specific for the particular program and there should be lots of documentation provided by the offering agency.

Feb 05, 2017 06:31 AM
Rainmaker
4,572,706
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Popular in Lee County Florida for a while back in the day. Various programs with complete forgiveness over 10 to 15 years. Sell before then, entire amount due and payble!

Feb 05, 2017 06:21 AM
Rainmaker
7,041,773
Roy Kelley
Retired - Gaithersburg, MD

Yes. Check your local websites.

Feb 05, 2017 05:39 AM
Rainmaker
3,070,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Anna Banana Kruchten nailed this one!

Feb 05, 2017 05:09 AM
Rainmaker
4,496,675
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

What do you mean by a non-profit entity?

Feb 05, 2017 04:11 AM
Ambassador
5,758,994
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I have had problems with local non profits that provide security deposits for renters.  Never works out well, and I will not deal with them again.

Feb 04, 2017 10:06 PM
Ambassador
4,316,215
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Elizabeth R. Elstien - never happened this with me.

Feb 04, 2017 09:58 PM
Rainmaker
1,184,200
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

city first time buyer assistance program. Lower interest assistance. No interest employee assitance from hospital....

Feb 04, 2017 08:12 PM
Ambassador
4,555,822
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Teachers, police officers and fire fighters do have a fund here - $15K DPA that they don't have to pay back if they remain in the home for 5 years. Should they sell prior to the 5-years being up, the re-payment is pro-rated, based on the number of years they stayed in the home.

Feb 04, 2017 05:30 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have not

Feb 04, 2017 03:32 PM
Rainmaker
4,392,084
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I have no expereince in this but interesting reading the comments..good information.

Feb 04, 2017 03:03 PM
Ambassador
3,987,010
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Our City has a first time buyer program and years ago there were many non-profit programs in existence but they faded away. The downpayment money was forgiven over time as they lived in the house.

Feb 04, 2017 02:20 PM
Rainmaker
4,339,826
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

We have Clfa in our state and they have to take a class but it is free money till you sell. then you have to pay it back.

 

Feb 04, 2017 02:16 PM
Ambassador
4,745,079
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No experience but curious too see if others have done this!

Feb 04, 2017 12:28 PM
Rainmaker
1,358,959
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Thank you for the opportunity, but unfortunately San Diego County hasn't offered one in years, nor the government. We used to have one for school teachers back in 2006-07 that was down payment assistance, but that was 10 years ago and the memory fades.

Feb 04, 2017 12:08 PM