Hi, Janet

FHA approvals are typically good for up to 90 days, so you will have to get preapproved again. Remember: an actual preapproval is when your lender has gathered and favorably reviewed your credit, income, assets/savings, and employment. If that did not happen, then you may have only whats called a prequal. If so, I urge you to get a actual preapproval. That way you know exactly what you're working with, will be able to close that much sooner, and will be in a better negotiating position with sellers. Concerning your next question: depending on what areas your looking for homes in, apart from MSDHA, there may also still be available some local city and/or county based down payment assistant programs that require you to put down as little as 1% and get up to 10,000 in funds that can be applied to both your down payment and closing costs. Hope this helps, and if I can be of any further assistance please feel free to call me at: 800-678-6663 or email me at: rmcdowell@shoremortgage.com.

Janet, yes you should update your approval as it has been a few months. I recommend you all your lender to get an update before you look for houses.

You can use the 8000.00 tax credit for part of your down payment according to the IRS. However, I do not know of any lenders in my area that are doing it.

If you qualify the MSHDA loan is a good loan for First time home buyers with certain qualifications. You can Google them for the information but it make take longer than the Nov 30th deadline to get the transaction closed. But, you can contact them.

If you go FHA you need 3.5% of your own money into the downpayment.