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Clarification on October 1st DPA deadline from H.R. 3221

What happens on and after October 1st?

Nehemiah has confirmed with HUD/FHA that, contrary to information that has been circulating, the home sale/closing date generally is irrelevant when determining whether downpayment assistance may be provided. It is the credit/loan approval date that is relevant, as the law and HUD have made clear.


What is the precise definition of “credit approved” as described in the housing bill (H.R.3221)?

If a loan is manually underwritten, the approval date is the day on which the underwriter signs the Mortgage Credit Analysis Worksheet (MCAW) or the FHA Loan Underwriting and Loan Transmittal (LT).

When is the last day gift funds can be requested from Nehemiah?

As long as the mortgage lender receives the credit/loan approval in accordance with the law and HUD/FHA guidelines, Nehemiah will provide gift funds regardless of the date.

Click here if you would like to read an outline of events regarding downpayment assistance in Washington, D.C. Nehemiah’s staff has boiled down the most significant events and lengthy documents into concise, bit-sized summaries to keep you informed.

Click here if you are looking for the official documents relating to potential legislation and rulings affecting downpayment assistance.

Click here to read about recent downpayment assistance events in the media.

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Nehemiah's 501(c)(3) active status

Attorney's letter confirming Nehemiah's 501(c)(3) active status - (June 11, 2008)

FHA Web Page on DAPs whose nonprofit status has been revoked

IRS Ruling 2006-27