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HART Program (Housing Action Resource Trust)

Program Overview

HART Program (Housing Action Resource Trust) is a program to assist prospective homebuyers across the country who qualify for a first mortgage loan but fall short of the downpayment and other closing costs essential in the purchase of a home. This is not a government funded program or a silent second program. There is no need for the Borrower to repay the HART gift. Properties located nationwide qualify for this program. The application fee is $ 350.00.

Who is eligible for this program?

Buyers must qualify for a primary mortgage loan and must occupy the property when the loan is closed. The buyers must obtain Builder/Seller participation. Borrows can qualify for any program that allows gift funds from non-profit organizations. Must qualify with participating mortgage lender. To purchase or refinance a residential home. Is this program for first time buyers only? No

Property Eligibility Requirements

Properties located anywhere in the United States are eligible. Allowable property types: new or resale single-family detached homes, condominiums, townhomes, manufactured mobile homes as wellas 1 to 4 owner occupied units.

Benefit Details

Application fee of $350.00 or $500.00 may be paid by the buyer, seller/builder, lender, realtor or split between all parties. If the Buyer pays all or any portion of the HART fee, the fee must be collected and submitted to HART along with the buyer's application form. Buyers can receive up to $15,000. Amount of assistance is based on homebuyer's need and is not a set percentage of the sales price. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: Seller/Builder's participation is important factor in helping to support HART by making a charitable contribution after closing they help replenish HART's pool of funds.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.