Prior to October 1 2008 a home buyer could ask a home seller to help provide them with assistance towards their down payment. When congress changed the law if left buyers with very few options to help with down payment assistance. The loss of seller contibuted down payment assistance has left a big void in the First time home buyer market, to help fill the void many non-profit organizations are stepping up to provide Down Payment assistance to needy home buyers.
The Kansas City Regional Association of Realtors (KCRAR) has created a website to help would be home buyers locate those organizations that have funds available to potential home buyers. KC Home programs was created to make sure home buyers don't miss out on the programs available.
Some of the programs available are the KC dream Fund, MHDC in Missouri, the Johnson County ADDI fund and the USDA Rural Developement fund.
In addition to down payment assistance, you may be eligible for a First time Home Buyers $7500 tax credit if you purchase prior to July 1, 2009.
For more information about down payment assistance programs or the $7500 tax credit call 913-681-1383
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I've gotten a few clients approved with the KC dream program. I'm glad to see local organization stepping up to fill the void.