Ameridream is a non profit company that helps low to moderate income individuals or families by a home by providing down payment assistance. The Ameridream dpa program has been setting the standard for which all other down payment assistance programs strive to be. To get the Ameridream cash assistance, you must find a seller that is willing to participate in the program. The seller pledges money from the proceeds of the sale to the Ameridream foundation. In exchange Ameridream will gift the buyer the down payment needed for the FHA financing. Typically it is 3%.
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This is a good article about Ameridream. There are many ways to get the 3% down payment for an fha mortgage loan. The fha gift program also allows for gifts from a family member. Fha mortgage loans are terrific and easier to qualify for.
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