@Sunshine85 wrote:Jade,
Ignore the previous poster. He/she is nothing but a troll looking to start trouble.
Ask for a conference call between with your LO and their boss. What they've told you makes absolutely no sense- it sounds like they don't fully understand your DPA program, and as DLG wrote, don't know how to structure the loan properly.
Thanks sunshine, I know it does not make sense. I am calling the lender's head office tomorrow. I been working with this lady since December of 2012, and I will be pissed off if I lose the house and my money. They should honor this. It is not my fault I did the downpayment assistance and the seller was willing to pay all of my closing costs. They should have explain this more thoroughly if this is a problem. The only thing explained to me was the seller can pay up to 6% closing costs. They should know this can be a possibility.
Starting Score: 565
@Peter1142 wrote:What is this down payment assistance you are getting? Isn't it a taxpayer funded subsidy for people who could not afford to make a down payment? If such, I have to agree, if you can afford to make the down payment you should not be getting the down payment assistance.
The DPA in Texas is state funded, and as long as you meet income guidelines for the downpayment assistance one can get it. I also meet the FHA guidelines as well.
thanks
@Sunshine85 wrote:
@jadeite788 wrote:
@Peter1142 wrote:What is this down payment assistance you are getting? Isn't it a taxpayer funded subsidy for people who could not afford to make a down payment? If such, I have to agree, if you can afford to make the down payment you should not be getting the down payment assistance.
The DPA in Texas is state funded, and as long as you meet income guidelines for the downpayment assistance one can get it. I also meet the FHA guidelines as well.
http://www.tdhca.state.tx.us/homeownership/fthb/
You do not need to explain yourself or the program to anyone. It seems that every time someone posts about a DPA or 100% financing, all the trolls creep out from the wood work to make judgmental, uninformed posts.
You work and pay taxes, and anyone who has followed your posts knows what you've gone through to purchase a home.
Keep working with your LO and go as far up the chain as you need to, to get the results you want. Good luck- I hope all works out for you.
All I meant to say was that someone shouldn't be taking gov't assistance for the poor that they don't actually need. I don't think that's trolling, it's common sense. 
... but I don't know anything about the Texas program or what it is meant for. I certainly didn't meant to imply that OP shouldn't do what he needs to in order to buy a house.
@Peter1142 wrote:
@Sunshine85 wrote:
@jadeite788 wrote:
@Peter1142 wrote:What is this down payment assistance you are getting? Isn't it a taxpayer funded subsidy for people who could not afford to make a down payment? If such, I have to agree, if you can afford to make the down payment you should not be getting the down payment assistance.
The DPA in Texas is state funded, and as long as you meet income guidelines for the downpayment assistance one can get it. I also meet the FHA guidelines as well.
http://www.tdhca.state.tx.us/homeownership/fthb/
You do not need to explain yourself or the program to anyone. It seems that every time someone posts about a DPA or 100% financing, all the trolls creep out from the wood work to make judgmental, uninformed posts.
You work and pay taxes, and anyone who has followed your posts knows what you've gone through to purchase a home.
Keep working with your LO and go as far up the chain as you need to, to get the results you want. Good luck- I hope all works out for you.
All I meant to say was that someone shouldn't be taking gov't assistance for the poor that they don't actually need. I don't think that's trolling, it's common sense.
If I was poor then I diffenently would not buy house that I could not afford. Your logic does not make sense.
@jadeite788 wrote:
@Peter1142 wrote:
@Sunshine85 wrote:
@jadeite788 wrote:
@Peter1142 wrote:What is this down payment assistance you are getting? Isn't it a taxpayer funded subsidy for people who could not afford to make a down payment? If such, I have to agree, if you can afford to make the down payment you should not be getting the down payment assistance.
The DPA in Texas is state funded, and as long as you meet income guidelines for the downpayment assistance one can get it. I also meet the FHA guidelines as well.
http://www.tdhca.state.tx.us/homeownership/fthb/
You do not need to explain yourself or the program to anyone. It seems that every time someone posts about a DPA or 100% financing, all the trolls creep out from the wood work to make judgmental, uninformed posts.
You work and pay taxes, and anyone who has followed your posts knows what you've gone through to purchase a home.
Keep working with your LO and go as far up the chain as you need to, to get the results you want. Good luck- I hope all works out for you.
All I meant to say was that someone shouldn't be taking gov't assistance for the poor that they don't actually need. I don't think that's trolling, it's common sense.
If I was poor then I diffenently would not buy house that I could not afford. Your logic does not make sense.
You misunderstand me; I am not debating you, good luck with your purchase.
@Beasley12 wrote:Actually with the DPA that the OP is referring to, they are not giving you anything. The money that is given for the DPA goes into a second lien on the house. That means that if the OP ever goes to sell his/her house, he/she will have to pay that money back.
OP....I assume you are talking about the bond program in Texas. I too tried to use that program but was denied last minute because my income exceeded the guidelines. It turned out to be a blessing in disguise. I hope it works out for you though.
Yes I am, it is the SETH program, but I meet all the guidelines and still was denied. They will approve me, but I have to use my own funds. Which I felt misled. I still was not given an exact reason. I called 3 different lenders today and they said it doesn't sound right. All I was told was my credit score was too close to the minimum required, I have limited credit, and my DTI is too close to 41%. I am trying to figure out how some people on these boards have a lesser credit score than mine and using downpayment assistance or USDA and still get approved.