As time went by you would also see the 2 loans get closer in total cost due to the fact that you would likely have a larger interest deduction.

Either way we seam to pay a boat load of money to the banks.

Dave,

I don't get it either, but at the same time, I think I do. It's called being a "sales" person. Loan officer - "Mr. borrower, I can save you some money that the other lender isn't, because I am not using Nehemiah who is ripping you off." My take on this.... eat the cost yourself.

I see so many people complain about these DPA's, that it costs the seller extra money. 2 things... if you want to seel the house and it costs an extra $500, aren't you selling your house? Or how about this one then. Realtor, then take it out of your commission.

Overall, the cost of the DPA can be paid by the realtor, the buyer, or the lender. You bring up another good point. I have heard some realtors complain about Nehemiah because it delayed the settlement. Maybe it was the lender using that as an excuse because either they forgot to order the money, ordered it wrong, or there was another issue on the file.

Lastly, I didn't really know about Nehemiah giving back to certain communities.

Overall... thanks for the polite compliments. Jeff

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Tom,

I have never used AmeriDream and don't plan on it, since I am very familiar with Nehemiah. But that's good to hear....

 thanks, Jeff

My buddy & I were talking about this the other day.  We all know that stuff happens with these files right before closing which frequently requires me to have to revise the transaction and in some cases we have to adjust the gift amount.  The hardest part is dealing with the realtor and seller, the Nehemiah part is easy.  No matter how close I cut it, the have always been able to turn it around in time and give me the corrected doc and gifts moneis needed to close the deal.

Also, I spent some time checking them out and these guys have done a lot of great stuff in the community as far as charitiable causes.  My understanding is that the other DPA's haven't.

Bottom line is, today more than ever, I can't afford to risk my transaction to save a few bucks.  You get what you pay for.  I was in a meeting this week and heard that some of the other DPA's have started dry funding some deals.  In today's market, the last thing I want is to worry about after navigating my deal to a successful conslution is whether or not the DPA has enough money to fund the downpayment. 

Nehemaih is a sure thing and worth a few extra bucks!

Also, thanks to Jeff's great info, I got into the FHA game earlier than many of my peers and have built a nice book of business and a pipeline that my co-workers envy.  Thanks Jeff! 

Wonderful meme!!

Sounds like Vermont & I aren't a good fit:-)