Nehemiah Down Payment Assistance

What is the Nehemiah Program:

• The Nehemiah Program is the Nation's largest privately funded downpayment assistance program, helping thousands of people achieve their dream of homeownership. Nehemiah Corporation of America (Nehemiah), one of the Nation's largest and most respected community development corporations, administers the Nehemiah Program.
• The Nehemiah Program provides gift funds to qualified homebuyers who purchase participating homes using an eligible loan program, for example a Federal Housing Administration (FHA) loan and some specific conventional loan products, would meet the terms and conditions required by Nehemiah.
• he Nehemiah Program has specific lenders which allow gift funds to be provided in order for you to get down payment assistance and purchase your owner occupied home.

What are Gift Funds:

• The Nehemiah Program Gift Funds are monies offered by Nehemiah to qualified homebuyers, requiring:
• No repayment,
• No silent second mortgage an
• No re-capture penalties.

Where are the Gift Funds offered:

• The Gift Funds are offered toward the purchase of a participating home anywhere in the United States - their are:
• No income limitations and
• No geographical restrictions.

The money given to the homebuyer is a True Gift. Nehemiah charges a Nehemiah's Processing Fee that may be paid by the:

• Homebuyer,
• Seller, or
• Lender.

Who May Request Gift Funds:

• The Gift Funds may be requested on behalf of you the homebuyer from:
• One of our Mortgage Consultants or Loan Officers, or
• Through a registered Closing Agent / Escrow Officer.

The funds can be collected in 1 or 2 ways:

(1st) Under the Standard Processing method, our mortgage consultants complete the required documents (loan application, etc) and submit them to Nehemiah via fax or through their registered closing office. ***The homebuyer can receive a gift amount between 1% to 6% of the final contract sales price or at a flat gift amount not to exceed six percent (6%) of the final contract sales price). Further, the seller or homebuilder contributes an amount equal to the gift to Nehemiah and pays a processing fee of $499.

(2nd) Under the On-line Processing method, our mortgage consultants request gift funds using our online processing system (OPS) and submit the executed documents to Nehemiah through a registered closing office. As mentioned earlier, mortgage originators who choose the paperless feature option request gift funds directly from Nehemiah. *** The homebuyer can receive a gift amount between one percent (1%) and six percent (6%) of the final contract sales price or a flat gift amount (not to exceed six percent (6%) of the final sales price. The seller, lender, homebuilder, or homebuyer pays a processing fee of $499.00.

With the OPS paperless option you get the fastest receipt of gift funds. And, as an added bonus the processing fee for newly constructed homes is $385.00.

Our Mortgage Consultants who request the gift funds directly from Nehemiah, do this through the paperless feature option, rather than the standard process.

Who is Eligible?

• The Nehemiah Program offers gift funds to any qualified homebuyer, not just to first-time homebuyers.
• A qualified home buyer is anyone who:
• Purchases a Nehemiah participating home to be owner occupied (non-occupant, co-borrower(s) may assist owner-occupant to qualify for a mortgage.
• Our eligible lender programs to qualify, such as FHA or conventional, which allows the Nehemiah loan program benefits to become available to you and accepts charitable organizations.

What is a Nehemiah Participating Home?

• A Nehemiah participating home is a home owned by a seller who has entered into a participating Home Agreement with Nehemiah, acknowledging that the seller has made his or her home available for purchase by a homebuyer receiving gift funds. Any home on the market can be purchased using our program, provided the seller agrees to the Nehemiah participation requirements. A participating home may be:
• an existing (resale) home, or
• a new home offered by a hombuilder.

A Participating Home Agreement can be obtained by contacting us.

What is Recommended for the Homebuyer?

• Nehemiah recommends that homebuyers seriously consider the following:
• Homeowner education courses, and
• Home Inspections.

Homeownership Education Courses:

• Nehemiah strongly encourages, but does not require, all homebuyers to complete a homeownership education course. Nehemiah's On-line Homeownership Education Course is available at no cost to you.

Home Inspections:

• Nehemiah strongly encourages, but does not require home inspections. home inspections provide the homebuyer with an impartial evaluation from a objective, qualified, professional (most Real Estate Agents always request that their buyers get a Home Inspection) this inspection will give you the overall condition of the house that you are planning to purchase. Although it is a buyers cost - the home inspector will provide you with a list of items that may need to be repaired or replaced.

What is an Eligible Loan Program?

• The Nehemiah Program, may be used in conjunction with any eligible loan program. Nehemiah reserves the right to approve the loan program. In order to have an eligible loan program the The homebuyer must qualify for one of these property types listed below:

• The homebuyer must qualify for a single-family home,
• The homebuyer must qualify for a 1-4 unit property (owner occupied in a unit),
• The loan must permit charitable organizations to provide gift funds to be used in conjunction with the purchase of a home.

What is the Closing Agents Responsiblities:

• Closing agents recieve Nehemiah gift funds by wire-funds transfer through a registered closing office only. Nehemiah will not pay for any costs associated with wiring funds to Nehemiah. Such wiring costs, as well as other costs associated with the use of a closing office, this must be negotiated in advance or applied to the terms of the contract between the seller and buyer. The closing agent must receive the Nehemiah gift funds before the loan closes. Nehemiah WILL NOT honor gift fund request after the loan has closed and funds have been disbursed.

What is the Real Estate Agents Responsiblities:

• The Nehemiah Program works best when the Real Estate professional working with the homebuyer utilizes the programs that are available and understands how the Nehemiah Program works.
• Nehemiah offers training on using the Nehemiah Program through its Outreach sales and marketing division, please contact us at Nehemiah Training for more information..

Nehemiah's History:

The Nehemiah Progressive Housing Development Corporation is a California nonprofit organization, whose mission is to supply safe and affordable housing to buyers.

Nehemiah Goal:

The Nehemiah Program gifts money to qualified buyers to purchase Nehemiah properties throughout the United States.

Finding A Home:

Once a home buyer makes a offer that is accepted by a home seller, the process begins to start loan configuration for the home purchase. Nehemiah gift funds are wired to the Title Company and the home buyer closes on the transaction.

Max Income and/or Limitations:

There are not any income limitations with this program.

No Repayment Required?

The down payment assistance is a gift and does not need to be repaid back.