NEHEMIAH

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. The Nehemiah Program provides gift funds to qualified homebuyers who purchase participating homes using an eligible loan program, such as a Federal Housing Administration (FHA) loan. The Nehemiah Program is approved to provide gift funds by the FHA, which allows charitable organizations to provide gift funds toward downpayment and closing costs.
The Nehemiah Program gift funds are monies offered by Nehemiah to qualified homebuyers, requiring no repayment, no silent second mortgage, and no re-capture penalties. The gift funds are offered toward the purchase of a participating home anywhere in the United States-with no income limitations and no geographical restrictions. The money given to the homebuyer is a true gift. Nehemiah charges a nominal processing fee that may be paid by the seller, lender or homebuyer.

Who is Eligible?
The Nehemiah Program offers gift funds to any qualified homebuyers, not just to first-time homebuyers. A qualified homebuyer is anyone who:
* Purchases a Nehemiah participating home to be owneroccupied (non-occupant co-borrower(s) may assist owneroccupant 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.

What is Recommended for the Homebuyer?
Nehemiah recommends that homebuyers seriously consider (1) homeownership education courses and (2) home inspections.
(1) Homeownership Education Courses: Nehemiah strongly encourages, but does not require, all homebuyers to complete a homeownerhip education course.
(2) Home inspection: Nehemiah strongly encourages, but does not require home inspections. Home inspections provide the homebuyers with an impartial evaluation and important information about the property's overall condition. An inspection may provide homebuyers with a list of items that need to be repaired to replaced.

Harnan Financial Group, Inc. can help you to purchase your home. Please give us a call!!
(310) 649-2221
nancy@harnanloans.com


For more information on the Nehemiah Program please go to www.getdownpayment.com



Excerpts taken from The Nehemiah Program Guidelines at getdownpayment.com