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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
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