The class will begin shortly

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "The class will begin shortly"

Transcription

1

2 The class will begin shortly 1. Please sign the sign-in sheet. 2. Please take a PowerPoint packet.

3 Class will begin in one minute. Please take a seat.

4 Ohio Housing Finance Agency Jonathan Duy Real Estate Relations Manager Ohio Housing Finance Agency 57 East Main Street Columbus, OH (614) Toll Free: OHFA (6432)

5 Please register online if you haven t registered yet.

6 OHFA Classes are Now Available Online!

7 Download the Presentation and Follow Along on Your Mobile Device

8 I hope to educate you on OHFA Homeownership Programs so you can help your clients make educated decisions when purchasing a home. Man walks into bear while walking and texting.

9

10 OHFA Mission Statement We open the doors to an affordable place to call home. The Ohio Housing Finance Agency (OHFA) facilitates the development, rehabilitation and financing of low- to moderate-income housing. The Agency's programs help first-time homebuyers, renters, senior citizens, and others find quality affordable housing that meets their needs.

11 Affordable Housing Rental Development Through partnerships with the private sector, OHFA has financed the rehabilitation and creation of over 100,000 affordable housing rental units.

12 Homeownership in America

13 According to the Census Bureau, the highest point of homeownership was in 2004 at 69.2%. Does anybody know the homeownership rate in America as of 3 rd quarter, 2015?

14 Midwest Homeownership Rate -68.1% Homeownership Rate Region Midwest Northeast South West 2014 Fourth Quarter 68.1% 60.8% 65.4% 58.7% U.S. Census Bureau 3 rd Quarter 2015

15 First-time Buyer Rate Under Historical Norm of 40% 32% The typical first-time buyer was 31-years-old. National Association of Realtors- Profile of Homebuyers

16 Sales Price of Existing Homes-Nationally Source: National Association of Realtors Year Median Sales Price Average Sales Price 2013 $197,100 $245, $208,300 $255, $222,400 (7.6%) $266,400 (4.7%)

17 Historical New Home Sales m , , U.S. Census Bureau: Time and Trend Charts-New Homes Sales-2016 and January NAR Realtor Magazine 2016 Forecast

18 2016 Housing Forecast Source: National Association of Realtors Chief Economist: Lawrence Yun Homeownership Rate Year Forecast Existing Home Sales 4.9 Million 5.2 Million Million Housing Starts 1 Million 1.1 Million 1.3 Million New Home Sales 437, , ,000

19 Columbus is the 13 th fastest growing city in the country with an estimated census population of 835,957 in An estimated gain of 12,421 people between 2013 and The city has never declined in population since Source: Columbus Dispatch Columbus population keeps rising Source: US Census

20 Numeric Change in Population July 1, 2013 to July 1, ,000-19,999-Franklin 10,000-14,999 5,000-9,999 2,500-4,999-Hamilton 1,000-2, to ,000 to -2,499-2,500 to -4,999-Cuyahoga Source: OSU Extensions in the City 2014 Population Changes in Ohio s Cities

21 County Population Growth Comparison Source: U.S. Census Bureau Stagnation in most areas besides Central and Southwestern Ohio. A Decade of State Population Change January 10, 2013

22 Things are looking up! Ohio Existing Home Sales Sales Activity Average Sales Price Year-end ,108 $142, ,399 (-1.3%) $149,210 (5%) ,632 (8.7%) $155,427 (4%) Ohio Association of Realtors: January, 2016

23

24 Three Important Items to Know about OHFA Our funds are always available. OHFA homeownership programs can be used anywhere in the State of Ohio. Not all lenders (Banks or Mortgage Companies) are OHFA participating lenders. Participating lenders can be found at:

25 How do OHFA Homeownership Programs work? 1. Realtor or Lender typically informs homebuyer about OHFA loan programs. 2. Homebuyer chooses the loan program that best fits their needs. 3. Homebuyer goes through normal home buying process. There are no major differences in the process except taking a one hour homebuyer education/budgeting course.

26 First-Time Homebuyer Down Payment Assistance Grants for Grads Ohio Heroes Limited 203(k) (Repair Loan) Weatherization Mortgage Tax Credit These products fall underneath the First-Time Homebuyer umbrella.

27 Next Home Down Payment Assistance Ohio Heroes Limited 203(k) (Repair Loan) Weatherization Next Home is a loan program for homebuyers who are not first-time buyers and are looking to purchase their next home.

28 OHFA participates in all of the major loan types:

29 Requirements For All Homebuyer Programs Must meet OHFA income limits and properties must meet purchase price limits (Listed on When calculating borrower income, only the borrower(s) living in the home and listed on the mortgage and promissory note will be used. Must occupy the property for the first year. Credit Score: 660-FHA and 640-Conventional,USDA,VA Must be a 1-4 unit property. No manufactured homes. Up to 2 acres inside municipal corporations and up to 5 acres outside municipal corporations. 1 hour homebuyer education class required. This is completed online and over the phone. Must occupy property within 60 days of closing.

30 First-Time Homebuyer Program To qualify for OHFA s First-Time Homebuyer program, you must meet at least one of the following criteria: 1. Someone who has not had an ownership interest in his/her primary residence in the last three years. Example #1 Someone who has never bought a home. Example #2 Potential homebuyer owned a home 10 years ago but decided to sell the home and rent an apartment. He/she now wants to buy a home again. OHFA would consider them a First-Time Homebuyer.

31 First-Time Homebuyer Program-Continued 2. Anyone buying in a Target Area -A target area is an economically distressed area designated by the U.S. Department of Housing and Urban Development. 3. Honorably Discharged Veteran- Regardless if they currently own a home or have owned a home in the past three years. If current property owned is not sold before loan closing, it will be counted as rental income in homebuyers income calculation. Please note that the property they are purchasing must be owner occupied after closing.

32 Your Choice! 2.5% or 5% Down Payment Assistance If you qualify for OHFA's First-Time Buyer program you also qualify for our Down Payment Assistance product. OHFA will issue assistance in an amount of exactly 2.5% OR 5% of your home's purchase price. You can use the assistance to pay for the down payment, closing costs, or other prepaid expenses incurred prior to closing. Your interest rate will be slightly higher than OHFA s standard mortgage rates.

33 Repayment Requirements The Down Payment Assistance will be issued as a second mortgage with a 0% interest rate that is forgivable after a seven-year term. If the buyer sells or refinances prior to the end of the seventh year, the buyer is responsible for paying the entire amount of the assistance back. Example: Closing date 1/1/15, forgiven 1/1/22.

34 Ohio Heroes Through OHFA s Ohio Heroes product, Ohio s Heroes can receive a rate that is slightly lower than OHFA's standard mortgage rates. Available to full-time employees in the following professions: Active Military, Active Reserve, Veterans Firefighters, Volunteer Firefighters, Emergency Medical Technicians or Paramedics,911 Operators Licensed or Certified Direct Patient Caregivers Police Officers and Correctional Officers Teachers and College Professors

35 2.5% or 5% Grants for Grads Borrowers must have graduated within the last 48 months with an associate s, bachelor s, master s or doctoral degree. (Recognized by the U.S. Dept. of Education s Database of Accredited Postsecondary Institutes and Programs.) You can use the assistance to pay for the down payment, closing costs, or other prepaid expenses incurred prior to closing. Grants for Grads buyers also receive an interest rate that is slightly lower than OHFA's standard mortgage rates.

36 Repayment Requirements The Grants for Grads assistance will be issued as a second mortgage with a 0% interest rate that is forgivable after a five-year term. If the buyer moves out of Ohio before the end of the fifth year, they will be responsible for paying a portion of the grant back as listed below. This is intended to keep those with advanced degrees within the State of Ohio. OHFA will resubordinate the second mortgage if the homeowner refinances.

37 Mortgage Tax Credit Program This program allows you to take a federal tax credit for a portion of your mortgage interest for the life of the mortgage. The mortgage credit is in addition to the IRS home mortgage interest deduction. The percentage of the annual tax credit you can claim is based on the location and/or status of the property: 20% credit for non-target areas [Areas not designated as economically distressed by the U.S. Department of Housing and Urban Development (HUD)] 25% for target areas (An economically distressed area designated by HUD). Target Areas:

38 Mortgage Tax Credit Program-Continued 30% for Real Estate Owned (REO) purchases. (Any property purchased from HUD, Fannie Mae, Freddie Mac or a financial institution that acquired the property through foreclosure.) 40% for OHFA loans- If a homebuyer uses an OHFA loan, they can receive up to a 40% tax credit. They are also able to combine multiple programs and products together. Examples will be provided later in the course. There is no interest rate increase for the mortgage tax credit program.

39 Mortgage Tax Credit Eligibility Can be used with all OHFA First-Time Buyer loan programs/products. $2,000 maximum credit per year for the life of the mortgage. *No limit on the 20% credit rate. Credit amount will decrease each year as a portion of the interest paid decreases each year. Borrower must have earned taxable income each year to offset the mortgage credit. If a homebuyer already has a low tax liability, this credit might not help them because this can only be used as a credit, not a refund.

40 Mortgage Tax Credit Eligibility-Continued Must be requested at time of loan application. Buyers are strongly encouraged to consult a tax professional for advice on claiming the credit. Two options for credit: End of the year tax credit. (Not a refund.) Adjust W-4 withholding so homebuyer pays less taxes out of each paycheck throughout the year.

41 What happens if the borrower refinances or sells the property? Refinance- Borrower has one year to request new tax certificate. Home Sold- The tax credit is non-transferable and the original certificate becomes void. (This is a First-Time Buyer tax credit.) If the first year of interest on a $100,000 loan is $5,000, how much credit would the borrower be able to claim the first year?

42 Mortgage Tax Credit Example Annual Interest x % = Yearly Credit $5,000 20% $1,000 25% 30% 40% $1,250 $1,500 $2,000

43 Program Review MTC Basic (Can be used with any loan including non-ohfa loans.) Non-target areas = 20% Target areas = 25% REO s = 30% MTC Plus (Can combine with multiple programs and products and receive maximum 40% tax benefit under the MTC program.) OHFA Loans = 40%

44 MTC Example Realtor Johnny B. Selling made $63,000 in real estate 1099 income. He owes approximately $7,300 in taxes. His mortgage tax credit is $2,000 (40% on $5,000 mortgage interest). Total taxes now due are $5,300 (Savings of $2,000). If he claimed this credit for the first 15 years on his mortgage, that would be a savings of $30,000 in federal income taxes! This could be a significant amount of savings for your client.

45 Limited 203(k)-Repair Loan By using OHFA s Limited 203(k) product, you may combine the mortgage and repairs into one long-term, fixed-rate mortgage. Up to $35,000 in repairs. The total mortgage amount is based on the projected value of the property after all of the repairs and updates have been completed, including the labor costs. All repairs must be done by a contractor. Repairs can be completed after closing. The lending institution will reimburse the contractor for work completed. Mortgage Loan + Repairs = One mortgage

46 Weatherization Program FHA guidelines allow homeowners to add up to $2,000 in energy efficient improvements to their mortgage, without the improvements being included in the appraisal valuation. Thermostats Insulation wrap for water heaters Insulation wrap for ducts, pipes, unheated spaces Attic insulation Insulation for Floors, foundation walls Installation if weather stripping/caulking Installation of Storm windows/doors All repairs must be done by a contractor. Repairs can be completed after closing. The lending institution will reimburse the contractor for work completed.

47 Next Home Next Home is available for Ohio homebuyers who are not first-time homebuyers. All other criteria is the same as the First-Time Buyer program. Homebuyer must use OHFA Down Payment Assistance (Your Choice) product with Next Home. If current property owned is not sold before loan closing, it will be counted as rental income in homebuyers income calculation. Please note that the property they are purchasing must be owner occupied after closing.

48 Common Combinations of Conventional Loans Think of the First-Time Homebuyer Program (Conventional or Government) as the meat of the burger and the additional toppings (DPA & MTC) can be added to the loan.

49 Common Combinations of Government Loans

50 The Down Payment Assistance product is required when using the Next Home Program.

51 How this can help a Realtor help their buyer.

52 Conventional Loan (3% DP Requirement) Purchase Price $100,000 5% Down Payment Assistance (DPA) $5,000 Subtract the Down Payment and Closing Costs: 3% Down Payment -$3,000 2% Closing Costs -$2,000 Approximate out-of-pocket funds for down payment and closing costs: $1,500 This is based on approximate closing costs of $3,500. Closing costs vary for each lender. Buyer could request the additional closing costs from seller during negotiations to avoid bringing any down payment or closing costs to closing. Homebuyers may receive up to a $2,000 mortgage tax credit each tax year.

53 FHA Loan (3.5% DP Requirement) Purchase Price $100,000 5% Down Payment Assistance (DPA) $5,000 Subtract the Down Payment and Closing Costs: 3.5% Down Payment -$3, % Closing Costs -$1,500 Approximate out-of-pocket funds for down payment and closing costs: $2,500 This is based on approximate closing costs of $4,000. Closing costs vary for each lender. Buyer could request the additional closing costs from seller during negotiations to avoid bringing any down payment or closing costs to closing. Homebuyers may receive up to a $2,000 mortgage tax credit each tax year.

54 How to apply the down payment assistance. Buyer is able to choose how to apply the 5% down payment assistance in any combination they would like. Example: 5% towards down payment and $0 towards closing costs.

55 Homebuyer Programs Flyers can be printed from this website and given to your clients.

56 Daily Rates (Rates change everyday. These are not today s rates.) Income and Purchase Limits Vary by County and Program

57 Income and Purchase Limits Vary by County and Program Franklin County Mortgage Tax Credit Non-Target Area Mortgage Tax Credit Target Area SF Market Rate and Grants for Grads Income Limits Income Limits Income Limits 1 or 2 person family: $69,600 3 or more person family: $80,040 1 or 2 person family: $83,520 3 or more person family: $97,440 1 or 2 person family: $83,520 3 or more person family: $97,440 Purchase Price Limits Target: $312,368 Non-Target: $255,574

58

59 Your certificates will be ed within 5 days.

60

61 Two questions to ask yourself before you leave 1. Did I sign the sign-out sheet? 2. Did I register online so I can receive my certificate?

62 All information in this presentation, brochure, or term sheet is for informational purposes only. OHFA Homeownership Programs and Products are subject to change. Additional eligibility requirements may be required based on borrower specific criteria.

Presented by Concorde Mortgage Co.

Presented by Concorde Mortgage Co. Presented by Concorde Mortgage Co. Zanesville Office (740) 454-8876 Coshocton Office (740) 623-2995 Toll Free (800) 579-1291 Website: www.concorde-mortgage.com 1) Are You Ready to Buy? 2) Important Financing

More information

Homeownership Division

Homeownership Division Michigan Credit Union League & Affiliates Annual Convention and Exposition Helping Credit Unions Serve, Grow and Remain Strong #mculace MSHDA s Homeownership Programs Delivering the Dream to Michigan Families

More information

Clayton Homebuyer Assistance Program

Clayton Homebuyer Assistance Program Clayton Homebuyer Assistance Program OVERVIEW The purpose of this program is to strengthen partnerships and to expand the supply of decent, safe, sanitary and affordable housing in Clayton County. The

More information

MSHDA's Down Payment Assistance and Mortgage Credit Certificate. May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by:

MSHDA's Down Payment Assistance and Mortgage Credit Certificate. May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by: MSHDA's Down Payment Assistance and Mortgage Credit Certificate May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by: CREDIT UNIONS A DRIVING FORCE OF COMMUNITIES MSHDA Overview

More information

CITY OF BAY VILLAGE DEPARTMENT OF COMMUNITY SERVICES DOWN PAYMENT ASSISTANCE PROGRAMS

CITY OF BAY VILLAGE DEPARTMENT OF COMMUNITY SERVICES DOWN PAYMENT ASSISTANCE PROGRAMS CITY OF BAY VILLAGE DEPARTMENT OF COMMUNITY SERVICES DOWN PAYMENT ASSISTANCE PROGRAMS Cuyahoga County Loan and Grant Programs for Residents For application forms or more information on the programs below,

More information

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS In this packet... Introduction... 2 TDHCA s Homebuyer Assistance Options... 2 My First Texas Home (MFTH)... 2 Texas Mortgage Credit Certificate (MCC)... 2 Features of TDHCA s Homebuyer Assistance Programs...

More information

Save the Dream Ohio and Ohio Housing Finance Agency. and OHFA Homeownership Programs. Ohio Award: $570.4 Million to prevent foreclosure

Save the Dream Ohio and Ohio Housing Finance Agency. and OHFA Homeownership Programs. Ohio Award: $570.4 Million to prevent foreclosure Save the Dream Ohio and Ohio Housing Finance Agency Homeownership Programs Ohio s Foreclosure Prevention Effort and OHFA Homeownership Programs Presentation to Ohio Benefits Bank Conference September 17,

More information

Next Home Government Program Term Sheet Effective December 1, 2015

Next Home Government Program Term Sheet Effective December 1, 2015 Next Home Government Program Term Sheet Effective December 1, 2015 This Program Term Sheet ( Program Term Sheet as referenced in the Master Origination and Sale Agreement, HFA Guidelines as expressed in

More information

ReNew Grant Guidelines

ReNew Grant Guidelines Brooklyn Center ReNew Buyer Incentive Program Greater Metropolitan Housing Corporation Program Summary The Economic Development Authority (EDA) of Brooklyn Center, Minnesota (EDA) has partnered with the

More information

The City of MIDWEST CITY GRANTS MANAGEMENT DEPARTMENT Terri L. Craft, Grants Manager. MIDWEST CITY Homebuyer Assistance Program

The City of MIDWEST CITY GRANTS MANAGEMENT DEPARTMENT Terri L. Craft, Grants Manager. MIDWEST CITY Homebuyer Assistance Program The City of MIDWEST CITY GRANTS MANAGEMENT DEPARTMENT Terri L. Craft, Grants Manager Grant Amount: $5,000.00 MIDWEST CITY Homebuyer Assistance Program The Homebuyer Assistance Program promotes homeownership

More information

he Utah Housing Corporation offers six exciting loan programs to assist low- and moderate-income homebuyers with the purchase of a home.

he Utah Housing Corporation offers six exciting loan programs to assist low- and moderate-income homebuyers with the purchase of a home. he Utah Housing Corporation offers six exciting loan programs to assist low- and moderate-income homebuyers with the purchase of a home. All loan programs offer reasonable interest rates and three of the

More information

Central Ohio s housing market is healthy and stable.

Central Ohio s housing market is healthy and stable. Central Ohio s housing market is healthy and stable. All real estate is local, yet the media often ignores the differences between markets and talks about national trends. That s why so many people are

More information

WASHINGTON COUNTY HOMEBUYER ASSISTANCE PROGRAM CONSUMER GUIDELINES FOR HOMEBUYERS

WASHINGTON COUNTY HOMEBUYER ASSISTANCE PROGRAM CONSUMER GUIDELINES FOR HOMEBUYERS WASHINGTON COUNTY HOMEBUYER ASSISTANCE PROGRAM CONSUMER GUIDELINES FOR HOMEBUYERS The U.S. Department of Housing and Urban Development (HUD) has made Community Development Block Grant (CDBG) and Home Investment

More information

Delaware State Housing Authority. DSHA Homeownership Loan Programs

Delaware State Housing Authority. DSHA Homeownership Loan Programs Delaware State Housing Authority DSHA Homeownership Loan Programs DSHA is committed to following all aspects of the Fair Housing Act in our efforts to promote responsible homeownership and obtaining competitive

More information

Arkansas Development Finance Authority

Arkansas Development Finance Authority Arkansas Development Finance Authority ADFA S MORTGAGE BOND PROGRAM Arkansas Development Finance Authority P.O. Box 8023 Little Rock, AR 72203 www.arkansas.gov/adfa Home ToOwn Staff Murray Harding-Manager

More information

Glossary of Real Estate Terms

Glossary of Real Estate Terms Glossary of Real Estate Terms 1099 A tax form that says how much the receiver had classified as income and usually, but not always, must pay taxes on that amount. However if the seller in a short sale

More information

CITY OF HUNTSVILLE, ALABAMA. DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines

CITY OF HUNTSVILLE, ALABAMA. DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines CITY OF HUNTSVILLE, ALABAMA DOWNPAYMENT ASSISTANCE PROGRAM - DAP Program Description & Guidelines Contact information: Community Development, 120 E. Holmes Ave, Huntsville, Ala. 35801, 256-427-5400, fax.

More information

Q. What are the terms of the NeighborhoodLIFT funding?

Q. What are the terms of the NeighborhoodLIFT funding? Frequently Asked Questions: Q. What are the terms of the NeighborhoodLIFT funding? A. NeighborhoodLIFT funds are provided as a 5 year forgivable loan program for owner occupied properties. As long as the

More information

Down Payment Assistance Programs

Down Payment Assistance Programs Down Payment Assistance Programs Schedule an Appointment 6 8 hour Homebuyers Education Course 2-hour Pre-Purchase Counseling The Homeowners Employment Corporation SunTrust Bank Building - A 1530 Georgia

More information

Red Wing Housing and Redevelopment Authority Homebuyer Assistance Program

Red Wing Housing and Redevelopment Authority Homebuyer Assistance Program RED WING HOUSING & REDEVELOPMENT AUTHORITY 428 WEST FIFTH STREET, RED WING, MN 55066 TE L E P H O N E (651) 388-7571 FAX (651) 385-0551 TDD/TTY 711 W W W.RE D W I N G H R A.ORG Red Wing Housing and Redevelopment

More information

California Home Finance Authority (CHF)

California Home Finance Authority (CHF) Presentation for Real Estate Professionals California Home Finance Authority (CHF) 1215 K Street, Suite 1650, Sacramento, CA 95814 www.chfloan.org (855) 740-8422 Often first point of contact for a new

More information

Mississippi Home Corporation. Betty Temple Vice President Single Family Program Operations (601) 718.4626 Betty.Temple@mshc.com www.mshomecorp.

Mississippi Home Corporation. Betty Temple Vice President Single Family Program Operations (601) 718.4626 Betty.Temple@mshc.com www.mshomecorp. Mississippi Home Corporation Betty Temple Vice President Single Family Program Operations (601) 718.4626 Betty.Temple@mshc.com www.mshomecorp.com Mortgage Credit Certificate [ MCC ] Program MCC Tax Credits

More information

REAL ESTATE REPORT 3RD QUARTER 2015 SOURCES: BUFFINI & COMPANY,

REAL ESTATE REPORT 3RD QUARTER 2015 SOURCES: BUFFINI & COMPANY, REAL ESTATE REPORT 3RD QUARTER 2015 SOURCES: BUFFINI & COMPANY, INDUSTRY FACTS MEDIAN DAYS ON THE MARKET: 39 Days in April 2015 vs. Home sales in April reached a seasonally adjusted rate of 5.04 million,

More information

Overcoming the Down Payment Hurdle. Course #: 01 00 067 28889 Provider #: 0001

Overcoming the Down Payment Hurdle. Course #: 01 00 067 28889 Provider #: 0001 Overcoming the Down Payment Hurdle Course #: 01 00 067 28889 Provider #: 0001 Meet Ann & Doug Foxworth About TSAHC The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit housing corporation

More information

Welcome Home! Program

Welcome Home! Program Welcome Home! Program PRE-APPLICATION PACKAGE Note: We cannot process your Homeownership Application if required documentation is missing. Qualifying individuals and families purchasing homes in Gwinnett

More information

Homebuyer Tax Credit Course

Homebuyer Tax Credit Course Homebuyer Tax Credit Course January 2013 WELCOME TO NEW HAMPSHIRE HOUSING S ONLINE HOME START HOME BUYER TAX CREDIT PROGRAM TRAINING. THE HOME START HOME BUYER TAX CREDIT IS A VALUABLE TAX CREDIT THAT

More information

REALTORS AND FHA WORKING TOGETHER TO HELP PEOPLE FULFILL THE AMERICAN DREAM

REALTORS AND FHA WORKING TOGETHER TO HELP PEOPLE FULFILL THE AMERICAN DREAM Shopping for a Mortgage? FHA Improvements Benefit You FHA Insured Mortgages Realtors and FHA: Partners in Homeownership National Association of REALTORS FHA REALTORS AND FHA WORKING TOGETHER TO HELP PEOPLE

More information

Single Family Bond Program Lender Training PROGRAM OVERVIEW

Single Family Bond Program Lender Training PROGRAM OVERVIEW Single Family Bond Program Lender Training PROGRAM OVERVIEW What this program ISN T NOT A DOWN PAYMENT ASSISTANCE PROGRAM NOT FOR BUYERS WITH POOR CREDIT DOES NOT PROVIDE A SUBPRIME PRODUCT NOT FOR LOW

More information

BUYING YOUR FIRST HOME. Live the dream of owning your own home.

BUYING YOUR FIRST HOME. Live the dream of owning your own home. BUYING YOUR FIRST HOME Live the dream of owning your own home. HOME BUYING MADE EASY PNC, PNC HomeHQ, PNC Home Insight and Home Insight are registered service marks of The PNC Financial Services Group,

More information

Why rent when you can buy?

Why rent when you can buy? Why rent when you can buy? Are you unsure about becoming a HOMEOWNER? Thinking that you can t afford to BUY a home? Are you worried about whether homebuying is a good INVESTMENT? Buying a first home can

More information

CITY OF YOUNGSTOWN HOME BUYER PROGRAM. Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams. Revised 3/2008 (LH)

CITY OF YOUNGSTOWN HOME BUYER PROGRAM. Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams. Revised 3/2008 (LH) CITY OF YOUNGSTOWN HOME BUYER PROGRAM Community Development Agency Housing Division CITY OF YOUNGSTOWN Mayor Jay Williams Revised 3/2008 (LH) PROGRAM SUMMARY HOMEBUYER PROGRAM Purpose: To provide low and

More information

VHDA. Homeownership Program Guidelines for Realtors & Lenders. Updated 04/04

VHDA. Homeownership Program Guidelines for Realtors & Lenders. Updated 04/04 VHDA Homeownership Program Guidelines for Realtors & Lenders Updated 04/04 2 Benefits of a VHDA Loan: Creative financing programs Reduced interest rates Lower monthly payments More house for less money

More information

Investor s Guide to HUD and FHA Mortgage Financing. By William Bronchick

Investor s Guide to HUD and FHA Mortgage Financing. By William Bronchick Investor s Guide to HUD and FHA Mortgage Financing By William Bronchick The U.S. Department of Housing and Urban Development (HUD) was founded in 1965, with a mission is to increase homeownership, support

More information

Native American Mortgage

Native American Mortgage Native American Mortgage Government to government relationships Unique land status Tribal Trust Land Allotted Trust Land Unrestricted Land Underserved markets Non-traditional credit Limited access/exposure

More information

Preparing for homeownership

Preparing for homeownership Preparing for homeownership What we ll cover 1. Getting ready for homeownership 2. Mortgage basics 3. What you need to buy a home 4. Finding the right home 5. Resources 2 Getting ready for homeownership

More information

Welcome to the TSAHC Lender Training

Welcome to the TSAHC Lender Training Welcome to the TSAHC Lender Training About Us TSAHC is a 501(c)3 nonprofit organization. Our mission is to serve the housing needs of low income Texans and other underserved populations. We fulfill our

More information

City of Somerville Closing Cost and Down Payment Assistance Programs

City of Somerville Closing Cost and Down Payment Assistance Programs City of Somerville Closing Cost and Down Payment Assistance Programs WHAT DO THESE PROGRAMS OFFER? The City of Somerville can provide assistance in purchasing a home through two different programs. You

More information

Steven Young, Jr's. REAL ESTATE REPORT WINTER 2015

Steven Young, Jr's. REAL ESTATE REPORT WINTER 2015 Steven Young, Jr's. REAL ESTATE REPORT WINTER 2015 Steven Young, Jr's Real Estate Report PAGE 1 INDUSTRY FACTS MEDIAN DAYS ON THE MARKET: 56 Days in September 2014 Existing home sales in September increased

More information

The Federal Home Loan Banks, Community Investment, and Affordable Housing

The Federal Home Loan Banks, Community Investment, and Affordable Housing The Federal Home Loan Banks, Community Investment, and Affordable Housing John Stocchetti Executive Vice President Federal Home Loan Bank of Chicago March 26, 2012 Today s Presentation Introduction to

More information

The Short Sale Process

The Short Sale Process The Short Sale Process Our Presentation Today Will Address the Following: What is a Short Sale? Who Qualifies For a Short Sale? What are the Benefits of a Short Sale? What Documents Are Required? What

More information

Home Ownership Purchase Enhancement (HOPE) Program

Home Ownership Purchase Enhancement (HOPE) Program Home Ownership Purchase Enhancement (HOPE) Program MHDC is allocating $15 million towards the HOPE program. Qualified Missouri families that purchase a home in 2010 are eligible for a HOPE incentive equaling

More information

4 POWER-PACKED COURSES

4 POWER-PACKED COURSES SIMPLIFYING THE DIFFICULT 4 POWER-PACKED COURSES Short Sale: The Result of Foreclosure Mastering Real Estate Financing in a Shifting Market Mastering How to Use Short Sale Forms Market Yourself for Success

More information

Dr. Debra Sherrill Central Piedmont Community College

Dr. Debra Sherrill Central Piedmont Community College Dr. Debra Sherrill Central Piedmont Community College 1 2 Describe the benefits and pitfalls of renting versus owning a home. List the steps required to obtain a mortgage loan. Identify mortgage options

More information

Helping to make buying a home more affordable

Helping to make buying a home more affordable Helping to make buying a home more affordable What we ll cover 1. Are you ready to be a homeowner? 2. Overview of programs to help make buying a home more affordable 3. Types of programs available to you

More information

National Housing Market Summary

National Housing Market Summary 4th 2014 March 2015 HUD PD&R National Housing Market Summary The Housing Market Recovery Continues To Make Progress Overall, housing market indicators improved in the fourth quarter of 2014. Starts continued

More information

TRAVIS COUNTY HOUSING FINANCE CORPORATION

TRAVIS COUNTY HOUSING FINANCE CORPORATION GOVERNMENT SPONSORED PROGRAMS TO ASSIST FIRST-TIME HOMEBUYERS IN CENTRAL TEXAS TRAVIS COUNTY HOUSING FINANCE CORPORATION Dear first-time homebuyer, There are a multitude of housing organizations in the

More information

Welcome to the TSAHC Lender Training

Welcome to the TSAHC Lender Training Welcome to the TSAHC Lender Training Call in #: 1 877 347 4079 Guest Code #: 6699 All callers will be in listen mode only. About Us TSAHC is a 501(c)3 nonprofit organization. Our mission is to serve the

More information

Affordable, fixed rate mortgages

Affordable, fixed rate mortgages First Home Program Affordable, fixed rate mortgages Dear Future Homeowner, MaineHousing s First Home Program makes it easier and more affordable to buy a home of your own. There are many reasons to consider

More information

2010B Mortgage Credit Certificate Program. Fact Sheet

2010B Mortgage Credit Certificate Program. Fact Sheet CONT ACT: JE ANNE KNAPP, 713.569.5101 Mortgage Credit Certificate Program Fact Sheet Harris County Housing Finance Corporation (a local non-profit housing agency serving the county) has approved a homebuyer

More information

City of Rockford Community Development Department

City of Rockford Community Development Department City of Rockford Community Development Department Revised July 2005 GENERAL ELIGIBILITY REQUIREMENTS (For West Side Alive and Homestead Partnership programs ONLY) 1. Applicant must be an U.S. Citizen or

More information

Brooklyn Park Economic Development Authority

Brooklyn Park Economic Development Authority Brooklyn Park Economic Development Authority Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB Program Description & Guidelines July 2011 TABLE

More information

Home HOW TO BUY A WITH A LOW DOWN PAYMENT 3 % A consumer s guide to owning a home with less than three percent down. or less

Home HOW TO BUY A WITH A LOW DOWN PAYMENT 3 % A consumer s guide to owning a home with less than three percent down. or less A consumer s guide to owning a home with less than three percent down. 3 % WITH A LOW DOWN PAYMENT or less HOW TO BUY A Home If you re dreaming of buying a home, congratulations. You re in good company!

More information

The City of Kenner Community Development Department

The City of Kenner Community Development Department The City of Kenner Community Development Department First Time Homebuyers Training Program Description and Objectives The homebuyer education class explains the home-buying process to prospective homeowners,

More information

First-time Homebuyer Pathfinder Penny Bates

First-time Homebuyer Pathfinder Penny Bates Penny Bates First-time homebuyers, and homebuyers in general, sometimes can be confused by the mortgage and home buying process. The recent mortgage crisis underlined the need for additional consumer financial

More information

Appreciation is one way that the the difference between the market value of property and the amount owed on it increases.

Appreciation is one way that the the difference between the market value of property and the amount owed on it increases. Chapter 22 Buying a Home 22.1 Why Buy a Home? Vocab Market value appraised value assessed value Equity conventional loan FHA loan Trust deed escrow account discount points Loan origination fee closing

More information

Financial Planning for a Home of Your Own

Financial Planning for a Home of Your Own Financial Planning for a Home of Your Own FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT

More information

FIRST TIME HOMEBUYERS PROGRAM GUIDELINES (for Market Rate Units) Last Revised October 3, 2013

FIRST TIME HOMEBUYERS PROGRAM GUIDELINES (for Market Rate Units) Last Revised October 3, 2013 FIRST TIME HOMEBUYERS PROGRAM GUIDELINES (for Market Rate Units) Last Revised October 3, 2013 I. Applicant Eligibility a. The total household income can be no greater than 120% of area median, adjusted

More information

REALTORS CAN SELL HOUSES USING FHA

REALTORS CAN SELL HOUSES USING FHA REALTORS CAN SELL HOUSES USING FHA WITHOUT SELLER-FUNDED DOWN PAYMENT ASSISTANCE Right now, the big buzz among REALTORS is the elimination of seller-funded down payment assistance with FHA products. If

More information

Appraiser: a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate.

Appraiser: a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate. Glossary of Terms 203(b): FHA program which provides mortgage insurance to protect lenders from default; used to finance the purchase of new or existing one- to four family housing; characterized by low

More information

Should You Rent or Buy a Single Family Home?

Should You Rent or Buy a Single Family Home? Should You Rent or Buy a Single Family Home? By Fletcher Wilcox Real Estate Analyst V.P. Grand Canyon Title Agency, Inc. Is it cheaper to pay rent on a single family home or pay a mortgage on a single

More information

OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA

OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA IT ALL BEGINS AT HOME... Under the leadership of Lt. Governor Becky Skillman, IHCDA contributes to Indiana s economy by creating housing opportunity, generating

More information

House Republican Housing Plan The Responsible Homeowners Act

House Republican Housing Plan The Responsible Homeowners Act House Republican Housing Plan The Responsible Homeowners Act Keeping Families in Their Home, Lowering Costs for All Homeowners: $5,000 Refinancing Credit: House Republicans propose to provide a $5,000

More information

CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES

CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES 100. Purpose The Murfreesboro Affordable Housing Assistance Program (the Program) encourages homeownership for low-income,

More information

Ocwen Loan Servicing, LLC HELPING HOMEOWNERS IS WHAT WE DO! WWW.OCWEN.COM

Ocwen Loan Servicing, LLC HELPING HOMEOWNERS IS WHAT WE DO! WWW.OCWEN.COM 12/20/11 Paula Bachaman (203) 548-9046 paula@propertychoicesllc.com Property Address: 1024 Lindley Street, Bridgeport, CT 06606 Borrower Name: Jacqueline Muniz Antonio Muniz RE: Short Sale Request Package

More information

Housing Assistance Opportunities for Duluth Residents October 15, 2010

Housing Assistance Opportunities for Duluth Residents October 15, 2010 Housing Assistance Opportunities for Duluth Residents October 15, 2010 City of Duluth Building Safety City of Duluth Community Development City Hall Room 210, Duluth, MN 55802 City Hall Room 407, Duluth,

More information

The Guide to Single Family Home Mortgage Insurance

The Guide to Single Family Home Mortgage Insurance U.S. Department of Housing and Urban Development Office of Housing Office of Single Family Housing The Guide to Single Family Home Mortgage Insurance www.hud.gov espanol.hud.gov Becoming a Homeowner Many

More information

506 Loan Terms The Loan amount is $14,000.00 and will be a second mortgage lien closed with a DCA-approved Lender s first mortgage.

506 Loan Terms The Loan amount is $14,000.00 and will be a second mortgage lien closed with a DCA-approved Lender s first mortgage. Chapter 5 Georgia Dream NSP Purchase Program 501 Georgia Dream NSP Purchase Program The Georgia Dream NSP Purchase Program is funded with proceeds from an allocation of federal funds from the Housing and

More information

Dutchess County Housing Resource Guide

Dutchess County Housing Resource Guide Dutchess County Housing Resource Guide This guide highlights housing resources available to individuals including Home Repairs, Renovations, Home Buying, Homelessness, Rental Assistance, and Foreclosure

More information

Appraiser: a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate.

Appraiser: a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate. Mortgage Glossary 203(b): FHA program which provides mortgage insurance to protect lenders from default; used to finance the purchase of new or existing one- to four family housing; characterized by low

More information

Welcome to TSAHC Lender Training

Welcome to TSAHC Lender Training Welcome to TSAHC Lender Training About Us TSAHC is a 501(c)3 nonprofit organization. Our mission is to serve the housing needs of low income Texans and other underserved populations. We fulfill our mission

More information

SHORT SALES Frequently Asked Questions

SHORT SALES Frequently Asked Questions SHORT SALES Frequently Asked Questions This factsheet is provided for information purposes only. It is not a substitute for advice from legal, accounting, housing, or real estate professionals. Please

More information

Frequently Asked Tax Questions for Homeowners, Buyers, Sellers

Frequently Asked Tax Questions for Homeowners, Buyers, Sellers Frequently Asked Tax Questions for Homeowners, Buyers, Sellers August 2011 1. Homestead Exemption What is the Homestead Exemption, and how do I apply for it? Louisiana law provides an exemption from parish

More information

SHORT SALE LISTING PROCESS:

SHORT SALE LISTING PROCESS: SHORT SALE LISTING PROCESS: 1. We will be required to prepare a Net to Seller worksheet to show the lender that your property qualifies for short sale. In conjunction with this, we will need to determine

More information

CONTRACT FOR DEED. What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome

CONTRACT FOR DEED. What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome CONTRACT FOR DEED What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome Copyright 2012 CONTRACT FOR DEED Is it the right option for me? This publication is intended to provide advice

More information

INSTRUCTIONS. HAFA Short Sale Agreement. Defines the terms and conditions of a short sale, including the following:

INSTRUCTIONS. HAFA Short Sale Agreement. Defines the terms and conditions of a short sale, including the following: INSTRUCTIONS HAFA Short Sale Agreement Defines the terms and conditions of a short sale, including the following: listing agreement, maximum real estate commissions and marketing terms; servicer and borrower

More information

Guide to. Getting Your First Mortgage

Guide to. Getting Your First Mortgage Guide to Getting Your First Mortgage 2040 Deyerle Ave, Suite 207 Harrisonburg, VA 22801 (540) 442-8583 www.vbsmortgage.com info@vbsmortgage.com Thank you for downloading our FREE guide! Feel free to share

More information

Homebuyer incentives available to help public service personnel purchase homes in Hanover Park, IL

Homebuyer incentives available to help public service personnel purchase homes in Hanover Park, IL Homebuyer incentives available to help public service personnel purchase homes in Hanover Park, IL Benefits Include: $1,000 Credit on Village Water Bill $5,500 Grant towards the purchase of a qualified

More information

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.

MORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another. MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default

More information

MORTGAGE RESCUE: HomeOwnership Center Assistance. A Program of St. Mary Development Corporation

MORTGAGE RESCUE: HomeOwnership Center Assistance. A Program of St. Mary Development Corporation MORTGAGE RESCUE: HomeOwnership Center Assistance A Program of St. Mary Development Corporation St. Mary Development Corporation Non-profit organization Community development and neighborhood revitalization

More information

HOMEBUYER S MORTGAGE GUIDE

HOMEBUYER S MORTGAGE GUIDE WWW.WINTRUSTMORTGAGE.COM WINTRUST.COM/MYHOME HOMEBUYER S MORTGAGE GUIDE HELPFUL INFORMATION ABOUT THE MORTGAGE PROCESS TO GUIDE YOU AS YOU PURCHASE YOUR NEW HOME. www.wintrust.com/myhome WHY WINTRUST?

More information

DOWN PAYMENT ASSISTANCE PROGRAM Frequently Asked Questions

DOWN PAYMENT ASSISTANCE PROGRAM Frequently Asked Questions I need help with a down payment to buy a home. Where do I start? Register for a home buyer education course by calling 512/974-3100 or go to http://www.austintexas.gov/department/housing-smarts-counseling

More information

Insert Product Photograph Here

Insert Product Photograph Here Pitt County Community Development Down Payment Assistance Program Insert Product Photograph Here Overview The HOME Down payment Assistance Program is designed to assist potential low income, first-time

More information

www.fha.gov FHA s Role and Strategy to Help Vulnerable Homebuyers and Homeowners

www.fha.gov FHA s Role and Strategy to Help Vulnerable Homebuyers and Homeowners FHA s Role and Strategy to Help Vulnerable Homebuyers and Homeowners FHA Helping Vulnerable Homeowners & Homebuyers Refinance Options for Non-FHA Foreclosure Prevention for FHA Support for Housing Counseling

More information

Economic Stimulus Package, Homeowner Affordability and Stability Plan and Neighborhood Stabilization Program. North Dakota Web-Ex 2/26/2009

Economic Stimulus Package, Homeowner Affordability and Stability Plan and Neighborhood Stabilization Program. North Dakota Web-Ex 2/26/2009 Economic Stimulus Package, Homeowner Affordability and Stability Plan and Neighborhood Stabilization Program North Dakota Web-Ex 2/26/2009 Overview In 2008 Congress created a $7,500 First- Time Homebuyer

More information

INTRODUCTION. A guide for homebuyers

INTRODUCTION. A guide for homebuyers FINANCE GUIDE INTRODUCTION A guide for homebuyers The prospect of buying a home can be intimidating, particularly given the many changes to mortgage rules and requirements over the past several years.

More information

The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners

The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners April 2014 U.S. Department U.S Department of Housing of Housing and Urban and Urban Development Development

More information

OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA

OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA OPPORTUNITIES FOR HOMEOWNERSHIP IN INDIANA IT ALL BEGINS AT HOME... Under the leadership of Lt. Governor Sue Ellspermann, IHCDA contributes to Indiana s economy by creating housing opportunity, generating

More information

CLEARINGHOUSE. Financing an Energy-Efficient Home ENERGY EFFICIENCY RENEWABLE AND

CLEARINGHOUSE. Financing an Energy-Efficient Home ENERGY EFFICIENCY RENEWABLE AND U ENERGY EFFICIENCY AND RENEWABLE ENERGY CLEARINGHOUSE Financing an Energy-Efficient Home The average homeowner spends close to $1,300 a year on utility bills. But an energy-efficient home with such features

More information

St. Johns County. St. Johns County Housing & Community Services

St. Johns County. St. Johns County Housing & Community Services St. Johns County Homeownership Program St. Johns County Housing & Community Services 2012/2013 Page 2 St. Johns County Homeownership Program THE STATE HOUSING INITITIVES PARTNERSHIP (SHIP) PROGRAM The

More information

HouseCharlotte Homeowner Assistance Loan Submission City of Charlotte Housing Subsidy Program

HouseCharlotte Homeowner Assistance Loan Submission City of Charlotte Housing Subsidy Program HouseCharlotte Homeowner Assistance Loan Submission City of Charlotte Housing Subsidy Program Please fill in all information completely Date: Lender Name: Lender Address: Contact Name(s): Phone Number:

More information

First Time Home Buyer Glossary

First Time Home Buyer Glossary First Time Home Buyer Glossary For first time home buyers, knowing and understanding the following terms are very important when purchasing your first home. By understanding these terms, you will make

More information

The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners

The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners March 2015 U.S. Department of Housing and Urban Development Office of Policy Development and Research U.S

More information

HOMEOWNERSHIP: Understanding What You Can Afford, Mortgages, and Closing Costs. Illinois Association of REALTORS. Springfield, IL 62701

HOMEOWNERSHIP: Understanding What You Can Afford, Mortgages, and Closing Costs. Illinois Association of REALTORS. Springfield, IL 62701 Illinois Association of REALTORS 522 S. Fifth Street Springfield, IL 62701 www.illinoisrealtor.org www.yourillinoishome.com HOMEOWNERSHIP: Understanding What You Can Afford, Mortgages, and Closing Costs

More information

Home Mortgage Interest Deduction

Home Mortgage Interest Deduction Department of the Treasury Internal Revenue Service Publication 936 Cat.. 10426G Home Mortgage Interest Deduction For use in preparing 1998 Returns Contents Introduction... 1 Part I: Home Mortgage Interest...

More information

FIRST TIME HOME BUYER PROGRAM FREQUENTLY ASKED QUESTIONS

FIRST TIME HOME BUYER PROGRAM FREQUENTLY ASKED QUESTIONS FIRST TIME HOME BUYER PROGRAM FREQUENTLY ASKED QUESTIONS QUALIFICATION/ELIGIBILITY QUESTIONS 1. What if I haven t previously bought a home, but my spouse has? If my spouse is not going to be on the mortgage,

More information

These sample documents are for your reference only and are not to be filled out or submitted as originals.

These sample documents are for your reference only and are not to be filled out or submitted as originals. 9000 Southside Blvd Jacksonville, FL 32256 FL9-400-01-21 Phone: 1 (866) 413-3757 Email: jaxhelocshortsales@bankofamerica.com The following is a sample of the Home Equity Line of Credit (HELOC) Welcome

More information

OWN IN OGDEN PROGRAM GUIDELINES

OWN IN OGDEN PROGRAM GUIDELINES CITY OF OGDEN, UTAH COMMUNITY AND ECONOMIC DEVELOPMENT OWN IN OGDEN PROGRAM GUIDELINES I. PROGRAM SUMMARY Own in Ogden is an Ogden City program designed to increase home ownership in specific target neighborhoods.

More information

PRE-APPLICATION PACKAGE (PHASE I)

PRE-APPLICATION PACKAGE (PHASE I) Lawrenceville Housing Corporation Welcome HOME Program PRE-APPLICATION PACKAGE (PHASE I) ***Note: We cannot process your application if required documentation is missing.*** THIS PRE-APPLICATION MUST BE

More information

HENNEPIN COUNTY. Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB

HENNEPIN COUNTY. Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB HENNEPIN COUNTY Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB Program Description & Guidelines AUGUST 2011 TABLE OF CONTENTS Program Background...

More information

Fannie Mae Short Sale: Improving the Short Sale Experience

Fannie Mae Short Sale: Improving the Short Sale Experience Fannie Mae Short Sale: Improving the Short Sale Experience An Important Note About the Content of This Presentation While every effort has been made to ensure the accuracy of the content, Fannie Mae s

More information