Down Payment Gift Program

 

What is the Nehemiah Program?

DOWN PAYMENT ASSISTANCE PROGRAM

 Nehemiah is one of the top Down Payment Assistance providers in the nation. Nehemiah provides grants to families who can’t otherwise afford a down payment or would rather save their down payment for a rainy day. It allows thousands of families to own homes while increasing the potential buyer pool for Sellers, Builders, Lenders, and Realtors.

PROGRAM OVERVIEW

 How often has a buyer, who wanted to purchase a home, had good credit and could even afford a mortgage payment but lacked the down payment. Nehemiah helps turn these people into potential homebuyers! The Nehemiah Program is the fastest and easiest program available. Nehemiah works with The Buyers Fund, Inc. to provide grants for prospective homebuyers. This money comes from an existing pool of funds and can be used for a down payment and/or closing costs per FHA guidelines. It’s also compatible with Conventional and Sub-Prime loans.

HOW THE PROGRAM WORKS

 With the Nehemiah Program, the Seller or Builder gets full asking price for their home and agrees to pay a service fee to Nehemiah. The fee equals the grant amount plus one percent of the cost of the home not to exceed $1000. This remarkable method allows the buyer to get into the home with no money down while the seller gets the desired price. An example of this process is detailed below:

Average Home Sales Transaction

 List Price:                                    $120000
 Sale Price:                                   $115000
                                      (After Negotiation)

 Less Realtor Commission (6%)      $6900

 Seller Net:                                   $108100

 

Nehemiah Transaction 

List Price:                                     $120000
 Sale Price:                                   $120000
                                      (Full Price)

Less Realtor Commission (6%)      $7200
Less Nehemiah Fee         $4600
                                      (Grant + 1%)

Seller Net:                                    $108200

 

 

 

Loan Star Mortgage Solutions
505 N. Ave C
Humble, TX. 77338
Phone: 281-446-6193 Fax: 281-446-4538
TX License No. 25457

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