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.
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