Mortgage loan question

10 Replies

Has anyone heard of the Home Purchase Program (HPP)? I read that some banks like HSBC used to have the program, but they discontinued it. I’m looking to see if anyone has a similar program.

 Willing to talk any lender to see if we can work something out. Thank you for your time.

Angel, reading online it looks like a voucher / reimbursement type of program offered through HUD.. am I getting that correctly? Are you looking to assist in covering costs to reduce yours when buying a property? I know some states have programs for assistance but sometimes it is income and area dependent. Usually what seems to be common is down payment assistance at least when I have done research in the past.

I'd look for Lenders in here, or even make a marketplace listing searching for a lender or lending program that meets the criteria you are searching for. 
Good Luck!

@Angel Dross could you help out a little here - what was it about the "HPP" program that you liked?  I'm not familiar with a HPP loan specifically...there is a HPAP loan, but I don't think it's the same thing.  Let me know a little more about what the features were that you liked and maybe we can point you in the right direction.  Thanks!

@Angel Dross ah, then there are a lot of different lenders that offer this....well, not as many as offer the other types of loans but certainly plenty that can help.  There is a pretty good article on it HERE and maybe try to google search some different terms that can help you find a lender.  Since Bigger Pockets is more for investors you might not get many responses on this subject (but at least we got connected) so keep looking and maybe even try posting in the New York forum here on Bigger Pockets (if that's the state you are looking in).  Good luck!

@Andrew Postell that Article is amazing thank you! I’m glad we were able to connect as well you really gave great insight so I can better word what I’m looking for. I do intend on investing, not just buying a home to live in. New York is way to expensive for me, do you only invest in Texas ? Also, are you willing to try the Sharia way so that maybe we can do business together?

@Angel Dross thanks so much!  And this is kind of what Bigger Pockets was designed for - investors helping out other investors.  And every once in a while, we might help someone who's not an investor.  When I first started out NOBODY helped me...so I try my best to provide answers as best as I can.  And I work for a company (I don't own it or anything) so we don't even offer something along those lines.  I kind of just specialize in investment properties with Fannie/Freddie type of loans and it seems to work out.  Thanks again for posting!

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