1-877-634-3642
1-877-NEHEMIAH
Whether you are seeking to grow your business, or simply
to broaden the range of customers you can serve, Nehemiah stands ready
to work with you to help more people become homeowners.
Saving to buy a home can be a difficult task. For many potential homebuyers
saving enough money for a downpayment and closing costs may take years
relegating them to renting instead of owning a home. With a gift from
Nehemiah you will be able to turn cash poor buyers into homeowners.
- Gift funds up to 6% of the contract sales price
- Online Paperless Processing available
- Approved by leading mortgage lenders
Clarification on October 1st DPA deadline from H.R. 3221
What happens on and after October 1st?
Nehemiah has confirmed with HUD/FHA that, contrary to information that has been circulating, the home
sale/closing date generally is irrelevant when determining whether downpayment assistance may be provided.
It is the credit/loan approval date that is relevant, as the law and HUD have made clear.
What is the precise definition of “credit approved” as described in the housing
bill (H.R.3221)?
If a loan is manually underwritten, the approval date is the day on which the underwriter signs the Mortgage
Credit Analysis Worksheet (MCAW) or the FHA Loan Underwriting and Loan Transmittal (LT).
When is the last day gift funds can be requested from Nehemiah?
As long as the mortgage lender receives the credit/loan approval in accordance with the law and HUD/FHA guidelines,
Nehemiah will provide gift funds regardless of the date.
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