Homebuyers

You too can join the hundreds of thousands individuals and families who have become homeowners using gift fund programs.

As you may have discovered by now, there are a lot of different down payment assistance gift fund programs out there. All of them give you money to help with your down payment from funds that are raised by home sellers. Does it really matter which down payment gift fund program you use? Yes. The gift fund industry was started by Don F. Harris, a minister who was trying to find a way to help people change their communities through homeownership while helping legitimate charitable organizations raise money to do good works. Now that the "gift fund industry" has become big business, many programs are high on costs and low on true charity.

The IHS Program not only assists you with your down payment, it also requires the seller to contribute money to an organization that is committed to making the world a better place, International Housing Solutions, (www.internationalhousingsolutions.org). The IHS Program also uses the latest internet-based technology to ensure that your down payment assistance gift funds are at the closing table when you are.

Getting Started

1. Learn More about the Home Buying Process

We encourage you to learn all that you can about the home buying process. We recommend the following links:

“Common Questions from First time Homebuyers” provided by the U.S. Department of Housing and Urban Development (“HUD”)

“Becoming a Homeowner” provided by Fannie Mae

“How Much Can I Afford?” provided by Ginnie Mae

2. Get Pre-Qualified by a Lender

The IHS Program works best with loans that are insured by the Federal Housing Administration (“FHA”). FHA offers a listing of approved lenders. The image below is a picture of FHA’s Lender List web page. Simply “click” the image to go the page. Select “Title II-Mortgage Programs" under Insurance Type.

3. Identify an Eligible Home

The IHS Program requires that the seller contribute money to the source nonprofit, International Housing Solutions, in order for the seller’s home to be eligible for purchase under the program. Your lender should be familiar with real estate agents or homebuilders who can assist you with this step. If your lender, real estate agent, or homebuilder is not familiar with down payment assistance gift fund programs, simply direct them to this website.

Let us be the first to congratulate you. You will soon be another homeowner that purchased a home with little to no money out of pocket.

For more information contact Angela Romeril at (801) 556-9884 aromeril@dapdevelopment.net

If you are purchasing a home in Utah and would like to request Down Payment assistance funds: