Free money to buy your home? YES it is here!

I have been searching for grants to buy homes for the past week. I have found a program that gives it to you. No repayment! Think it is to good to be true? I did. So I contacted one of my trusted financial mortgage bankers in Arab. I asked him several questions all about this newer program from the Nehemiah program.

Here is what Brandon Snider had to say:

Here's some basic info about the Nehemiah program:

Gift funds up to 6% of the final contract sales towards your downpayment and/or closing costs

Gift funds for both first time and repeat homebuyers
(Nehemiah charges a nominal processing fee that may be paid by the seller, homebuyer, or lender.)
Gift funds for both new construction and resale homes

No repayment of gift money

No income or asset limits

No geographical restrictions
If you are a qualified homebuyer using an eligible loan program, such as an FHA loan, The Nehemiah Program can help you become a homeowner!

Below is some info that Brandon complied from their website about the Nehemiah program, some Q&A's:

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. Nehemiah Corporation of America (Nehemiah), one of the nation's largest and most respected community development corporations, administers The Nehemiah Program. 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 (HUD Handbook 4155.1 Rev. 4, Chg. 1).

What Are Gift Funds?

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 May Request Gift Funds?

Gift funds are requested by mortgage originators on behalf of qualified homebuyers through a registered closing agent, e.g., a settlement agent, closing attorney, escrow officer, or title company representative. Mortgage originators who choose the paperless feature option request gift funds directly from Nehemiah.

Who Is Eligible?

The Nehemiah Program offers gift funds to any qualified homebuyer, not just to first-time homebuyers. A qualified homebuyer is anyone who:

Purchases a Nehemiah participating home to be owner-occupied (non-occupant co-borrower(s) may assist owner- occupant 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 a Nehemiah Participating Home?

A Nehemiah participating home is a home owned by a seller who has entered into a Participating Home Agreement with Nehemiah, acknowledging that the seller has made his or her home available for purchase by a homebuyer receiving gift funds. Any home on the market can be purchased using our program, provided the seller agrees to the Nehemiah participation requirements. A participating home may be an existing (resale) home or a new home offered by a homebuilder. A copy of the Participating Home Agreement can be obtained from our website at: https://www.getdownpayment.com/lenders/download.asp

What Is Recommended for the Homebuyer?

Nehemiah recommends that homebuyers seriously consider (1) homeownership education courses and (2) home inspections.

Homeownership Education Courses: Nehemiah strongly encourages, but does not require, all homebuyers to complete a homeownership education course. Nehemiah's Online Homeownership Education Course is available at no cost to homebuyers at: https://www.getdownpayment.com/buyers/hec.asp. In addition, HUD-approved counseling agencies provide homeownership education courses to homebuyers. A list of HUD-approved counseling agencies may be found online at http://www.hud.gov/buying/index.cfm.
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 or replaced. Please refer to HUD form 92564 8-99, "For Your Protection: Get a Home Inspection," for more details.
What Is an Eligible Loan Program?

The Nehemiah Program may be used in conjunction with any eligible loan program. Nehemiah reserves the right to approve the loan program. An eligible loan program has these characteristics:

1) The Homebuyer must qualify under a single-family, 1-4 unit loan.

2) The loan must permit charitable organizations to provide gift funds to be used in conjunction with the purchase of a home.


This sounds like a really good thing for homebuyers today. I will look more into this and maybe do a followup later on it.

If there is a topic you want me to find more about, email me at jonesteam@jonesteamsells.com and I will certainly look into it.

Don't forget, we are looking to find a restaurant to visit to nominate for Restaurant of the month. Email us and let us know which restaurant in Marshall county is your favorite! Thanks again and Happy Easter!