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can i get a fha loan with down payment assistance if im not first time buyer?

i sold my home in 2009 following a divorce. my credit is over 700 and my job is stable i just need some down payment help. can i do a DPa program in conjunction with fha finacning by zoe.h876345917 from Corona, California. Feb 2nd 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Typically, if you have not owned a home for the past 3 years, your considered a FTB for most lending programs.. as far as DPA programs.. it's best you contact a local mortgage broker and apply with them.. they should be familiar with all the local programs being offered.. Although each program is different and can have varying requirements, they don't always require you to be a first time home buyer to qualify.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 2nd 2015
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Ray Jones (OneRay)
#873 ranked lender in California - 10 contributions

Most all local DPA programs, MCC program, CA-CHDAP and CA-Platinum all define First Time Home Buyers as not having owner their principle residence in the last 3 years. You submit your last 3 years tax returns to verify no home mortgage deduction on Sched A. These programs all fit PERFECTLY with FHA which does not require borrower investment beyond the assistance program you are getting. Usually 1% to 3% down is all that is required. FHA is not limited to FTHB except that you usually cannot have another FHA loan at the same time. I lend in all of California.Ray Jones(559) 4465-2882Ray@OneRay.com

Feb 2nd 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#28 ranked lender in New York - 2,236 contributions

You will need to look into the DPA programs that are available in your are and see what their specific guidelines are regarding FTHB.

Feb 2nd 2015
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Andrew Lugo (AndrewLugo)
#861 ranked lender in California - 5 contributions

Hi Zoe - I am a CA Lender and I have a DPA program that can be tied together with FHA financing. You don't even need to be a 1st time homeowner! The program provides buyers with up to 5% of the 1st loan amount in the form of a GRANT! Grant funds never need to be repaid!!! The program has some guidelines that we need to satisfy so if you'd like to know more about the program, please give me a call at 877-736-6367 or you can reach me at andylugohomeloans@gmail.com. You can also apply securely at www.andylugohomeloans.com.

Feb 2nd 2015
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

You may need to wait 3 years since last home ownership.

Feb 2nd 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Generally speaking, no... But maybe yes. Most programs require you to have not owned a home in the past three years to be reconsidered a first time home buyer. But check with a local mortgage broker in your area. For example here in MN, I have a program where you can still get assistance if you own a home today. www.MNHomesAndLoans.com

Feb 4th 2015
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Chris Neuswanger (mtnmortgageguy)
#95 ranked lender in Colorado - 84 contributions

Down payment assistance funds are usually administered by local or county governments or state agencies. Each has their own definition of what is acceptable. If you are in CO I would be pleased to assist you. Chris Neuswnager 970-748-0342 mtnmortgageguy@gmail.com or visit my web site at www.mtnmortgageguy.com

Feb 4th 2015
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