I know most first time home buyers have heard the rumors about tightening of the lending guidelines that no money down is gone, that if you go FHA you must have 3-5% down payment in addition to your closing costs. Well that is all true however there is a great program out there called Nehemiah. The good lenders, realtors and builders are using it every day to help first time home buyers purchase their first home and get around having to have excess funds for a down payment.
So what is this Nehemiah you ask? Glad you asked.
Nehemiah exists for one simple purpose: helping people become homeowners. The Nehemiah Program® provides gift funds for downpayment and closing costs to qualified buyers using any loan program that allows for downpayment assistance from a non-profit organization. Nehemiah has helped more than 250,000 individuals and families realize their dream of homeownership.
- Gift Funds up to 6% of the sales price to be applied to your downpayment and closing costs. This means you can buy a home with little or no cash of your own.
- No repayment of gift funds. That’s right, it is truly a gift.
- No geographical restrictions. Nehemiah gift funds can be used to purchase a home in all 50 states and Puerto Rico.
- New or resale homes are eligible. You are not limited in your selection of a home. New home, resale home, condominium, duplex or townhomes are eligible.
If you have been thinking about purchasing your first home in Central Florida I can help. I have aligned myself with top lenders who know the ins and outs of this program and together we can help you realize your dream of owning real estate with little money upfront.
For information on buying or selling in Central Florida, Orange County and Seminole County, new construction or Relocation services contact your Lake Mary Real Estate Agent Heather Joubran @ 407-810-6304 or hjoubran@remax.net Seminole County consists of Lake Mary, Sanford, Heathrow, Longwood, Altamonte springs, Winter Springs, Oviedo. Orange County consists of Orlando, Downtown Orlando, Baldwin Park, Windermere, Apopka, Winter Park, Maitland, Disney, UCF, East Orlando, Lake Nona. I can help you with all your housing needs from Luxury Homes to First Time Home Buyers.
I have successfully helped over 100+ families buy or sell real estate.
Heather Joubran, GRI, NRBA, CLHMS, CDPE
RE/MAX Central Realty
www.HeatherTheRealtor.com (407) 810-6304
Specializing in First Time Home Buyers, Short Sales, Bank Owned Real Estate, REO & Foreclosure Properties
Servicing Real Estate Needs in: Lake Mary, Longwood, Winter Springs, Sanford, Altamonte Springs, Oviedo, Orlando, Downtown Orlando, Thornton Park, College Park, Winter Park, Maitland, Windermere, UCF, Lake Nona, Baldwin Park, Apopka, Ocoee & Winter Garden
Very nice post. Yep, I'm helping a couple buy their first home through Nehemiah in the next few weeks. :) It DOES work. Plus, AmeriDream is cool, too. Same idea and basically the same charge. www.AmeriDream.com Both charge about $499 for the paperwork for their respective programs.
We hope to be writing up and offer like this tomorrow:) In todays Market, sellers are more open to accepting these programs as well! Great post Heather, and I really like that you include that you've helped hundreds of familites in your blogs - I had to figure out transactions closed for my CRS application recently and if imitation is the highest form of flattery - I just may imitate your brilliance in a future post :)
Sincerley,
Grace
Save Ameridream and other Down Payment Assistance programs
If you haven't done so, go to this website, http://www.rallyforhomeownership.org/
It only takes 30 seconds. This form will go to your local Congressmen and Senators.
CONGRESS MEETS ABOUT THIS TODAY!
HUD should modify to lessen the risk BUT don't get rid of it. This is one of the last loan programs out there right now that can get buyers into a home with no money. (They still have to credit and income qualify)
http://activerain.com/blogsview/605114/Down-Payment-Assistance-Congress
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