do you have to pay back down payment assistance?

I know of a program where you do not have to payback the downpayment assistance.Be happy to help if you would like to touch bases with me.Lornelorne@gobestloan.com

Every program is different and has different guidelines as to whether or not it has to be paid back.. typically, Grants are monies that don't have to be paid back so long as you keep the property as your primary residence for a set period of time.. typically 5 years, but again, each program is different, so read the documents closely. 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

Depends on the program, there are many down payment programs available. In Colorado we have ones that act like a 2nd mortgage and have to be paid back and have others that are actual grants and never have to be paid back. Check with a local loan officer who offers down payment assistance programs and have them present you with all of your options.

Hi Elwes.kara, How about program that doesn't require a down payment? Enterprise OR is an area that's eligible for the no money down USDA mortgage. One of the best things about the USDA program is the monthly mortgage insurance is substantially cheaper than FHA or conventional options.For example: On an FHA loan of $150,000, the MMI (monthly mortgage insurance) would add $168.75 to your monthly payment but on a USDA mortgage it would only add $62.50!The other nice thing is USDA will actually allow you to roll in your closing costs as long as the appraised value supports it.| Please feel free to contact me for more information or help. | John Burke | Senior Mortgage Banker | Great Plains National Bank | http://www.usdamortgageonline.com | (877)228-9069 | Lending in ALL 50 states