FAQ – Is The Buyer Charged A Fee By The Down Payment Assistance Program

It is important to understand the question here.  When you ask the questions :Is the buyer charged a fee by the Down Payment Assistnace Programs”, you are asking if the administrator of that particular DAP charges a fee.  The answer could be yes or no depending on the program and will be identified on the Down Payment Assistance Programs page her on our website.

Remember that the lender could charge a fee for doing the program.  Also, you may be required to take a HUD certified HBE course and if so you may be charged for that.  And finally, if you have hired a professional company to help you find and qualify for the programs, they may have a charge to.

How much will the charges be specifically when charged by the Down Payment Assistance Program?  Usually 0 to .002 of the purchase price with many having a flat fee of 200 – 600 dollars.  This would not be a lender charge, it would be a charge from the DAP administrator.  You would be required to submit a check at the time that you submit the DAP application.  It is not refundable.  Again and again you here me say that it is important to use a lender and agent that are extremely experienced in these programs.  Here we see another example of how you can loose money by choosing the wrong team.

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