Special offer

Nehemiah Down Payment Assistance Program

By
Real Estate Agent with RE/MAX 100

Buyers should take advantage of this program now because it may not be here for very long.

Saving money for a downpayment and the closing costs necessary to purchase a home is very difficult. One option to consider is the Nehemiah Program established by the Nehemiah Corporation of America.  Here is a brief overview of this program.  For more information go to www.GetDownpayment.com or call the Nehemiah customer service hotine at 877-634-3642.

  • You can receive gift funds (provided by a non-profit organization) for up to 6% of the sales price.
  • New homes, resale homes, single family, duplex, triplex, condo, or townhomes are eligible.
  • There is NO repayment of funds -- it is a "gift" to the home buyer.
  • There are no income, asset or geographic restrictions and you do not need to be a first-time homebuyer.
  • You do not have to have perfect credit -- a lender can evaluate your financial situation and provide you with an accurate assessment.
  • Eligible loans for this program: any loan program that accepts gift funds for downpayment and closing costs. FHA loans are a good choice because they offer low interest rates, low downpayment requirements and more lenient credit requirements.  Some conventional loans may also qualify.
  • Nehemiah strongly recommends homeownership education courses which can be taken online.
  • The seller will "gift" the amount back to Nehemiah along with a processing fee.  

Contact me at 410-715-3261 for more information on this and other home ownership programs. 

Visit my website at www.LoveMarylandHomes.com.

Please visit www.mdhomeprograms.com for a list of available Federal, State and County/Local programs.

Comments (2)

Anonymous
Peggy

You can save gift down payment assistance.  Write Your Elected Officials.  Please take a minute to submit your comment regarding the urgent need to pass H.R. 6694 http://www.getdownpayment.com/pdfs/hr6694.pdf that allows for downpayment assistance to continue indefinitely.

Aug 25, 2008 04:51 AM
#1
Teri Deane
RE/MAX 100 - Columbia, MD
Realtor, ABR, CRS, SFR - The Deane Team

Peggy -- thank you for mentioning this: everyone should write or email their elected officials regarding these important assistance programs.  The last I heard, the Nehemiah program will not be available after October 1st of this year -- buyers who have ratified contracts before that date won't be effected.

Aug 25, 2008 05:04 AM