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QUICKDOWN GRANTS
The Quickdown program works together with non-profit agencies to offer down payment help for home buyers with approved or pre-approved FHA home loans. Quickdown is designed for first-time home buyers who can't afford to buy a home without down payment assistance.
Like other down payment assistance programs, Quickdown requires the seller to participate, but Quickdown does not work in direct contact with the seller. Ask your loan officer or real estate agent about finding a participating seller or getting a willing seller involved in the program. If you have an FHA home loan and make an offer to a participating seller, apply for Quickdown through your loan officer who will submit an application for pre-approval. It's important to decide on using this down payment assistance program as early as possible to avoid delays in processing and to get your funds in time for the closings date.
Most down payment assistance programs require the seller to pay a fee to participate. It is important to note that the fee is considered a payment for services rendered. It is not a tax-deductible charitable contribution. Ask your loan officer for further information if you have questions.
Since the this program uses many of the same items needed for an FHA loan,
we suggest that you familiarize yourself with all the characteristics of FHA loans by
going to FHA Loan Program: Important Facts and then apply online.
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