 |
|
RESPONSIBLE HOME GRANTS
The Responsible Home Ownership program is operated the non-profit Community Housing and Development Corp. The Responsible Home Ownership program offers down payment assistance specifically to low-income individuals who have steady income and good credit. Home buyers may qualify for this program if;
- They meet low-income criteria.
- They are pre-qualified for an FHA home loan, or are approved for an FHA loan.
- They want to buy a home in the United States.
- The seller participates in the program.
To participate, a seller must sign the "Participating Home Agreement". Check with your loan officer and/or realtor to learn how to get your seller into the program if not currently involved. Funds from this program can be used for both closing costs and down payments.
Responsible Home down payment assistance program is different than other programs because it is not limited to owner-occupied single family residences. This program allows down payment assistance for multi-family homes or commercial purchases. (Some of the terms of this down payment assistance program may fall outside the bounds of what you are permitted to buy with an FHA loan.)
Check with your loan officer if you have specific questions about your participation in this program using an FHA-approved home loan. Down payment assistance programs require the seller to pay a fee to participate. The fee is considered a payment for services rendered and not a tax-deductible charitable contribution.
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.
|
|
|
Refinance your
FHA HOME LOAN
(No Credit Check)
FHALoan.com is a private mortgage company specializing in fha home loans and is not associated with the federal government or HUD / FHA.
-- -- -- -- -- -- -- --
FHA Foreclosed Homes
Find homes at 50% below market value. Search now for free!
|
