Downpayment Assistance Programs for Homebuyers

AmeriDream: AmeriDream is a non-profit organization that offers downpayment gift assistance programs to buyers of single family homes valued up to $322,700 and and multi family homes up to $620,500. The gifts typically range from 2-6% of the sales price and depend in part on the maximum amount of gift allowed by the lender. AmeriDream gift funds can also be used to pay closing costs. More About AmeriDream

GiftAmerica Program (GAP): As with other gift assistance programs, GAP requires the seller to pay the amount of the gift plus .75 percent, based on the sales price of the house after settlement. A buyer must be approved by a lender that allows gift assistance. More About GAP

Homes For All Program: Homes For All Program has no geographic restrictions. As with other gift assistance plans, the home buyer does not repay the funds and the seller pays-in the amount of the gift plus a processing fee. There's no limit on a buyer's income or assets. The Web site states that gifts can range up to 7% or higher, but that figure is likely dependent on the maximum gift your lender allows. More About Homes For All Program

Nehemiah Program: One of the oldest organizations offering downpayment gift assistance to home buyers. Rules and restrictions are pretty much the same as others, because they all follow HUD guidelines. Gift funds range from 1% to 6%, depending on need. More About Nehemiah

RealtyAmerica.org: As with others, this non profit group collects the gift amount from sellers, plus a .75% fee. It goes into a pool of funds that gifts are paid from. Your loan can be with any lender that allows gift assistance. More About RealtyAmerica.org