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-- National Down Payment Assistance Nonprofit Opens the Market to More Buyers --

Gaithersburg, MD (April 3, 2003)—Spring is in the air, flowers are blooming, new growth is sprouting on trees, mortgage rates are low and the homebuying market is heating up. In other words, it’s the prime time to sell your home.

Real estate agents will advise homeowners about proper pricing, interior and exterior maintenance, and cleanliness – the important details that can make a big difference between a home selling quickly and sitting on the market for awhile. There’s another great way to sell your home – enrolling in a down payment gift program. What some real estate agents don’t know is that cleanliness isn’t the only way to reach out to buyers. In many housing markets, buyers with good salaries, good credit and the ability to purchase a home simply cannot because they cannot save up the down payment or closing costs, which limits the pool of potential buyers.

Down payment assistance organizations help potential homebuyers by donating the money needed to get into a home and fulfill the American Dream of homeownership. AmeriDream, the largest of these organizations, helps put nearly 4,000 people a month into homes. The AmeriDream Downpayment Gift Program is available in all 50 states to qualifying homebuyers – not just first-time homebuyers – interested in purchasing a single-family home priced to the FHA limit of $322,700.

“AmeriDream helps create a win-win situation where sellers can more quickly and easily sell a home and buyers are able to move into a home of their own,” said Ann Ashburn, AmeriDream CEO.

In order to participate, sellers simply enroll with AmeriDream.  Meanwhile, the homebuyer must contact a lender and qualify for a loan that allows gift funds. To learn more about down payment gift programs visit AmeriDream’s Web site at www.ameridream.org.




The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $1.5 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, and the Victims Rights Foundation.