The Affordable Housing Partners Down-Payment Gift Program
Buyers are allowed to participate in the Affordable Housing Partners’ approved program that provides down payment assistance and / or closing cost assistance through the process of a gift. Participation of this program is based on the buyer’s specific needs.
The underwriting guidelines are generally those used in standard FHA-HUD or conventional loan guidelines. However, on a case by case basis, the Debt to Income (DTI) and Down Payment Assistance (DPA) guidelines, as well as interest rates, may be adjusted.
Guidelines for Participation
To qualify for participation in Affordable Housing Partners’ Down Payment Gift Program, buyers must meet the following qualifications including price restrictions and location of the property:
- Borrower must occupy the home as a primary residence and must qualify for and meet all approval conditions for either a FHA or USDA financing program.
- Borrower must complete an online or otherwise approved Homeowner Education Program that addresses finances, home maintenance, and responsible decision making.
- The home must be located in a low or medium income area and / or be in a neighborhood that needs stabilization and relief from community deterioration.
- Currently approved in the following states: AZ, CA, CO, FL, NE, NM, ND, OR, TN, WA, TX, HI, UT, GA.
If you feel like you meet the requirements and would like to participate in the gifting program, please click here.
Help Support the Gifting Program
Our mission to see every family that wants to have a safe and affordable place to live be prepared with the knowledge, understanding, and education to make conscientious decisions regarding their housing and family responsibilities. Our current support is not adequate to help all of those who need our assistance. Consider supporting this program. (Please note that we can not accept your donation if you are a party to the sales transaction (seller, developer, real estate broker, etc).
This program is only available to low and moderate income families in need of housing. Our community goal is to help neighborhoods that need stabilization and restoration to help alleviate deterioration and the subsequent negative impact that it has both from a social and economic perspective.
Our stringent federal guidelines do not allow funding from the seller or any parties that have a primary or secondary interest in the real estate sales transaction. Funding also cannot be contingent on a specific seller or a specific property.
If you are interested in joining our program and want to learn more about partnering with us, please contact Curt Cluff at Partners in Action at 480-882-0800.
