| |
Credit
Check
Loan
Calculators
Mortgage
Software
Loan
Monitor
E-Payment
Loan
Library
Amazon
Bookstore
Marketplace
Dian
Hemer
Barry
Stone
|
|
Nehemiah
Progressive
This
is a California Based Housing Development Corporation focused on
delivering affordable housing & down payment assistance to home
buyers. This program is designed to help individuals who like to buy a
home, but do not believe they have sufficient funds or would simply like
assistance with the process leading to home ownership. This is a proven
program that will help you realize your dreams of home ownership. All
grant applicants must complete an approved home buying educational
seminar. Once the certification of completion is received and the signed
grant application is returned, we will submit you documentation to
Nehemiah to verify you meet the income limits and ensure sufficient funds
are available in the Down Payment Assistance Trust Fund.
Once
your application process is complete and you have selected a home that
meets Nehemiah's guidelines, Nehemiah will issue a grant to you for the
amount of funds approved in your application. FHA has approved the
Nehemiah Progressive Program under a six-month pilot program. For
additional information on applying for this Down Payment Grant, contact
our corporate office at (209) 235-LOANS or via email at .
Local
Non-Profit Organizations
Most
loan programs have provisions to allow funds to be granted to a homebuyer
to purchase a home. For this reason, NPOs provide an excellent source for
financial assistance in purchasing property. Under the FHA loan program,
borrowers can use grants from NPOs to pay for 100% of the required
investment to purchase their home. FHA is by far the most liberal in this
regard. Yet, the conventional loan program also has a provision for the
use of granted funds. Under the Community Home Buyers Program, a borrower
applying for a 95% loan-to-value loan has the option to pay for three
percent of the down payment with their personal funds and use a grant to
pay for the remaining two percent down payment. Whether applying a grant
for only part of the funds to close or 100% of it, Non-Profits
Organization represent an excellent tool to leverage your purchasing
power.
Family
Gifts or Loans
FHA
loan program offers an option for home buyers to have family members gift
or loan up to 100% of the funds necessary to complete a home purchase. FHA
is currently the only program available that offers this exciting option.
Bridal
Registry
FHA
announced on October 2, 1996, an initiative to provide couples planning to
get married the opportunity to establish a bridal registry savings account
in order to help them accumulate the down payment necessary for purchasing
their first home.
This
new initiative formalizes the use of cash for the down payment by allowing
couples to open up a bridal registry account where family and friends can
deposit their gifts directly into the registry account. When the newlyweds
purchase their new home, the money will be available and documented
through a lender-supervised account. Given that over two million people
were married in 1995, this initiative holds a significant and positive
impact for new families.
|
|
Loan
Library 
