Down Payment Assistance Programs may be a thing of the past as of October 2008.  It may seem to be the end for those clients without the assets needed to enter this market, but there may be a solution.   A first time homebuyer program may become available as a replacement.  A second lien would be allowed which can provide up to $10,000 in assistance.  There will be strict qualifying criteria such as mandatory homebuyer counseling, income and asset limitations, as well as puchase price limits.  So all you worrying about losing those DPA programs…hang in there.  It looks like we may be able to still offer 0 down financing.