“THIS PROGRAM IS NO LONGER AVAILABLE DUE TO LAW CHANGES”
FHA Down Payment Assistance Nehemiah Home Loan Program
Nehemiah Home Loans are dedicated towards giving qualified lenders up to 3% on the final sales of the home as down payment. Lenders taking advantage of this project can purchase a home without down payment combined with a FHA loan. Nehemiah is a private non-profit housing corporation in California. The program is non-governmental but lenders can still purchase Nehemiah homes throughout the United States.
The Nehemiah program requiring FHA lending is broken down in the following steps:
Lender gets approval for FHA lending
The Lender finds a home and contacts realtor on the offer using the Nehemiah program.
This program requires cooperation on the home sellers part. Nehemiah transfers the 3% payment and delivers it to the closing company before the transaction takes place. This means the seller makes a contribution towards the program only after the successful closure of the transaction while Nehemiah takes its money from a pre-existing trust fund.
There are several pre-approved lenders already affiliated with the Nehemiah program. Learn how to use the Nehemiah program to purchase a home with FHA lending.
