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3/25/2015

Grant Money to Buy a Home

Border of edible herbs for your new home use free money
to buy with a grant program. Help finance your home loan.
Like free money from grandma for your purchase mortgage


                What is NHF Platinum?
A first mortgage program with a Down Payment Assistance Grant.
Can excess grant funds be used towards closing costs?
Yes, only towards “customary” closing costs.
Does the client have to be a first time homebuyer?
No, clients can still use this program if they have owned a home in previous 3
years.
Do funds ever run out via too many reservations?
No, funds never run out as long as the program is offered.
NHF Platinum Q&A
What properties are allowed?
Allowed:
Owner Occupied, single family residences
Agency approved Condominiums and PUDs
Up to 4 units
Not Allowed:
Co-ops
Rental or investment properties
Recreational, vacation or second homes
Who funds the grant money at closing?
Funding sends a Grant Request to NHF and they fund Grant funds.
Example shown below is for WA State:
1180 - FHA - NHF Platinum
1280 - VA - NHF Platinum
4468 - USDA/RD - NHF Platinum
2180 - MCM Conventional AND Standard Conventional available
2180 - MCM Conventional AND Standard Conventional available
VERY IMPORTANT:
Standard Conventional NHF loans offer a maximum grant of 3%
Minimum credit score for the Standard Conventional NHF product is 740
All other NHF products have a minimum credit score of 640.
NHF Platinum Website
NHF Platinum website at: http://www.nhfloan.org/index.html
Program Index
Lender Support
Online Reservation System
Find interest rates under reservation system (between 9am
– 4pm PST)
Contact information
NHF website “Program Index”
Within the “Program Index” link:
Click on the “NHF Platinum” Blue link
This blue link opens up another webpage
providing :
Program Term Sheet
Income Limits
Reservation Portal
Grant checklist
MCM product
matrix
Training
opportunities
NHF Platinum Website
NHF Platinum Product 1st mortgage.
Income Limits:
Click on the associated link that
correlates to the NHF product you are
Income limits by State
Income limits by County
Grant amounts:
FHA, VA and USDA
Select between a 0%, 3% or 5% grant
Each grant option comes with an
associated interest rate
Conventional (both Standard & MCM) FREE GRANT FOR DOWN PAYMENT IS SUCH AN AMAZING BENEFIT!
CALL NOW TO FIND OUT HOW
(949) 784-9699 C G BARBEAU
NMLS # 324982

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