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NEHEMIAH DOWNPAYMENT GRANT
The Nehemiah Program offers down payment assistance to anyone qualified for an FHA loan. There are no additional income or asset requirements. Under the Nehemiah Program, buyers can get down payment assistance for up to 6% of the final contract sales price. These funds can also be used to offset closing costs. The program is open to first-time and repeat homebuyers and is approved for new construction or resale homes.
Nehemiah Program funds are not available for a "second mortgage" or home equity loans. The program is intended to help buyers with the purchase of a new home. Once you find a home and make an approved offer, contact your loan officer about applying for the Nehemiah Program. Your loan officer will fill out the paperwork on your behalf and once approved, the funds will be sent prior to closing.
The seller must participate in the Nehemiah program, which charges a processing fee that may be paid by the seller, homebuyer, or lender. Sellers who pay fees to participate in down payment assistance programs are not allowed to deduct the fee as a charitable contribution. These fees are considered payment for services rendered.
Since the this program uses many of the same items needed for an FHA loan,
we suggest that you familiarize yourself with all the characteristics of FHA loans by
going to FHA Loan Program: Important Facts and then apply online.
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