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Blog entries tagged with "nehemiah":
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Yesterday was a great day for a settlement! The spring temperatures, blue skys and slight breeze..couldn't have asked for better weather.
Nehemiah, FHA, and Minnesota Home BuyersMinnesota Home Buyers, primarily those with moderate to low income, got a big break recently as a federal judge ruled that HUD did not adequately explained their decision to reverse a policy allowing seller-funded down-payment assistance on FHA-backed loans.What this means for home buyers nationwide … (0 comments)
Do You Want to Buy a Home but You Don't Have the Down
payment?
Nehemiah will gift you up to 3% of the Purchase Prive for a down payment. The Seller must agree to participate in the program. Basically, the 3% is deposited by Nehemiah and it is deducted from the Sellers proceeds after the close of escrow. 
When I first got into real estate, I was working for my parents in Dayton, Ohio. Dayton had (and still has) a very affordable real estate market. It was very common to see most buyers purchasing using FHA financing or other government loans.
Chris Miller hosts a weekly radio show in Mesquite NV on radiomesquite.com called Talking Real Estate. On Saturday May 3rd, Jeff Belonger - The FHA Expert - was in town - Well, his voice was, anyway! Along with some of his knowledge and expertise as a loan guy.
As many first time home buyers start to realize now is the time to buy most ask what kind of assistance programs are out there for me. If you read my previous blogs on FHA Loans and Nehemiah Down Payment Assistance you will see just a couple of options.
Many cities, counties and federal government programs exist to provide down payment and closing cost assitance for new home buyers. 
Thanks to The Nehemiah Program ®, more than 250,000 individuals and families now own homes.
Well kept and updated home on a quiet street close to hospitals, schools, shopping and freeways. Newer carpet throughout; recently remodeled kitchen and bathroom; two roomy bedrooms; interior laundry room; attached 2 car garage with interior access and auto door opener; landscaped front and back. This home qualifies for First Time … (0 comments)
RE/MAX Agent Utilizes Unique Lending Program to Benefit Sellers & Buyers
I have just listed the perfect property for the people strapped for cash in their new home search. 
The best 100% FIXED rate program that exists today! Credit does not need to be perfect. The rates are FHA rates and the buyer can always streamline down to a lower rate AFTER the closing, if rates come down! The common sense loan for first time homebuyers with minimal cash. The most … (1 comments)
Edina, MN 
In the last century, the required down payment for a home purchase changed significantly, decreasing from 50% of the price to 20% to as little as $0. Recently, though, banks have started to ask for more. For most homebuyers, without a special deal through an organization like Nehemiah, 3% investment is … (4 comments)
I've recently seen a large increase in clients requesting a Nehemiah. Are most of you clients requesting it as well? 
Originally posted on http://primerealestatelasvegas.wordpress.com
In this second installment of Information for First Time Home Buyers will deal primarily with one of the biggest concerns people have; the money. In the first part of this series, I went over some of the financial benefits of purchasing a home in today’s market such … (0 comments)
As of April 1st Countrywide will no longer be offering 100% financing. The maximum LTV (loan-to-value) has been reduced from 100% to 97% and the minimum qualifying credit score has been increased from 660 to 680 points. 
The Nehemiah Program
Down payment assistance programs (Nehemiah and Ameridream) have won a court battle with HUD and remain viable programs. These programs used with FHA financing offer 100% financing and today's rate for FHA is 5.5%. Also, the buyer does not have to be a first time home buyer. The guidelines only require … (4 comments)
So often in today's market I am asked "All I hear is how real estate prices are dropping. It's all over the news, in the papers and everywhere I look. Why would I want to buy now when I'll be able to get a better deal when the market has settled?"
It's 10:35 PM and I have spent most of the day working on videos.
I made a video directing people to a listing of mine where the seller will sell via the Nehemiah Program.
I made a video of the interior. I made a directional video from the East and from … (6 comments)
WRITE TO YOUR CONGRESSMAN!!
Judge Throws Out Down Payment Assistance (edit/delete) 
Nehemiah won its litigation against HUD!!!
… (2 comments)
Don't know how many of your customers use the Nehemiah program, but all of us licensed to do FHA loans were sweatin' it just a little. For those of you who don't know; the Nehemiah program was in use to provide down payment assistance money (3%) for FHA insured mortgages. These mortgages in … (5 comments)
Here is a letter sent out Monday March 3 by Scott Syphax, President & CEO of Nehemiah Corporation of America:
For anyone following the Nehemiah HUD lawsuit, Nehemiah officials released a statement this evening.
Just got of the press. This is a great news for many LO and real estate agents how help low and moderate income buyers reach the american dream.
Locally, there are many programs to help you get into a home, especially if you are a First-Time Buyer, here in Central Florida. There are different programs from the different counties (Orange County, Seminole County, and other), different cities (City of Orlando!), etc. that help with getting people into homes. There … (4 comments)
How are these programs able to do this, exactly? Americare, Nehemiah, I am sure there are others. Seller pays a 3% donation to the program and the program in turn gives that same 3% back to the seller in the form of a down payment for the purchaser.
I’ve blogged before about the lengths sellers will go to these days. An older couple offered potential buyers their money back when the couple died. Others offered cars. Trips. Super Bowl tickets.
There certainly seems to be no shortage of potential homebuyers that call me for pre-qualification and immediately tell me that they have no money to put down on the home. Of course, they are working on saving some money for this purpose, but things keep coming up. These borrowers are not … (0 comments)
With the rapid demise of 100% financing, first-time home buyers are finding it increasingly difficult to purchase homes, even as prices become more tempting. Yet there is one solution often overlooked by borrowers and lenders alike. It is the Nehemiah program, and when used in conjunction with a normal FHA … (13 comments)
I think that a good FHA Fixed Rate Mortgage Loan is the best way to go for most people. Especially First Time Homebuyers who may need Down Payment Assistance. There is security and peace of mind that comes with having a good low fixed FHA interest rate. I also offer the Nehemiah down … (0 comments)
Seller Funded Down Payment Assistance programs are being eliminated as allowable sources of down payment. As of December, 2007, FHA programs will still allow AmeriDream and Nehemiah Seller Funded Down Payment Assistance programs as acceptable down payment sources, but only until February 28, 2008 for AmeriDream. Fannie Mae and Freddie Mac do … (4 comments)
Some Buyers who don't have a 20 percent down payment are finding it harder and harder to buy a home. And with the news media keeping the headlines a bit on the negative side to get your attention.... I wanted to try to help reassure you that there are ways to … (8 comments)
As many of you are aware, 100% financing has been a real boom to our business over the past 5 years. The tide has certainly changed and the term "Declining Markets" is now part of our vocabulary. While it is true that there are many pockets in the country that are … (2 comments)
Hi folks. In my recent post, A "gift of equity" and the "loose fly", I briefly touched down on a RMB (Realtor/mortgage broker) that was asking my Seller to commit mortgage fraud by pretending that he was a relative of the Buyer so he could give a "Gift of equity". This … (54 comments)
Thursday, November 15, 2007
Again the folowing shows that common Sense is becoming more common, does this men their is light at the end of the tunnel. I am loving this market and look forward to helping people in their Real estate transactions buy enough already with the red tape hurdles we have to jump seemingly every week. 
There has been much controversy over HUD granting a 6-month extension to Nehemiah only and to no other Down Payment Assistance Programs. A closed door meeting with the counsel for HUD, (the justice department), and counsel from Ameridream discussing the logic of the 6-month extension for everyone in the industry resulted initially in HUD's refusal to relent. … (4 comments)
On October 1, 2007 HUD published a final regulation that establishes that a prohibited source of downpayment assistance is a payment that consists, in whole or in part, of funds provided by any of the following parties before, during, or after closing of the property sale: the seller, or any other … (5 comments)
Ameridream and Nehemiah (also known as GetDownPayment.com), two of the largest non-profit down payment assistance providers, help low to moderate income home buyers obtain the down payment needed to enable them to purchase their homes. They specialize in accepting charitable gifts from sellers then provide that money to buyers in the form of … (2 comments)
What else is going to happen to prolong the housing slowdown and create additional road blocks to home ownership, especially for the First Time Home Buyer? First, it was the end of Sub-Prime mortgages then, tougher underwriting standards at all levels of the mortgage industry, a housing market which continues to … (3 comments)
This news broke over the weekend. I posted Saturday night about it, but I think something this big deserves a Monday morning read...
In 1835, East New York, Brooklyn was founded by John Pitkin, a wealthy merchant from Connecticut. The first occupants during the 1800s were mainly Germans. Lured by moderately priced row houses, low-rise apartment buildings, walk-ups with store fronts and bustling local shopping strips, the neighborhood became home to many immigrant families … (6 comments)
Recently updated with new faucets and granite counter tops in the kitchen and bathroom. Soaking/ garden tub. All new ceramic tile with diagonal layed tile in the kitchen. Stainless fridge, stove, dishwasher & microhood. Custom paint in living room. Ceiling fans in master and living room. Formal dining area. Seperate laundry room … (2 comments)
To everyone who read my last post on Nehemiah Downpayment Assistance being in trouble, here is the latest update email I received from The Nehemiah Program.
Downpayment Assistance Programs