Nehemiah Downpayment Assistance Program

In 1997, Nehemiah Corporation of America launched its flagship program, The Nehemiah Program®, to provide down payment assistance to homebuyers. To date, Nehemiah has provided more than $600 million in down payment assistance gifts, resulting in $20 billion in real estate transactions and has helped over 165,000 families and individuals achieve their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with Habitat for Humanity, HomeAid America and the US Conference of Mayors.

Through the Nehemiah Program, gift funds are provided to qualified homebuyers who purchase participating homes using an eligible loan program, such as a Federal Housing Administration (FHA) loan. Gift funds range from 1% to 6% of the contract sales price or a flat gift amount (not to exceed 6% of the final contract sales price). These funds require no repayment, no silent second mortgage and no re-capture penalties and are available to be used toward downpayment and closing costs for participating homes anywhere in the United States. There are no income limitations and no geographical restrictions. The money is a true gift. Nehemiah charges a nominal processing fee that may be paid by the seller, lender or homebuyer.

Eligibility
The Nehemiah Program offers gift funds to any qualified homebuyer, not just to first-time homebuyers. A qualified homebuyer is anyone who:

Purchases a Nehemiah participating home to be owner-occupied (non-occupant co-borrower(s) may assist owner-occupant to qualify for mortgage).
Uses an eligible loan program, such as an FHA loan or a conventional loan product that allows gifts from charitable organizations.

The program may be used in conjunction with any eligible loan program and Nehemiah reserves the right to approve the loan program. An eligible loan program has these characteristics:

The Homebuyer must qualify under a single-family, 1-4 unit loan.
The loan must permit charitable organizations to provide gift funds to be used in conjunction with the purchase of a home.

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 homebuilder.

Getting Started: It takes a Team
The Nehemiah Program works best when real estate professionals working with homebuyers who qualify for The Nehemiah Program are all informed about how the program works. Nehemiah offers training on using The Nehemiah Program through its Outreach sales and marketing division.

For more information, call (877) 634-3642 or visit their website at http://www.getdownpayment.com.