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Buyers Fund

Program Overview

Buyers Fund is a loan program that provides down payment assistance in compliance with FHA and Conventional loans. This program seems to work better using FHA and HUD guidelines. The grants can be used on any home and with FHA, Conventional, or Sub-prime loans. This program is available nationwide. The application fee is $ 395.00.

Who is eligible for this program?

Borrowers must be pre-approved by a participating mortgage lender using their loan approval guidelines to qualify the buyer. Income eligibility is set by the participating lender in order to qualify them for a first mortgage loan. Down payment assistance for those who might not otherwise qualify for a home loan. Is this program for first time buyers only? No

Property Eligibility Requirements

This program and properties are eligible nationwide. Allowable property types: Single family, condo, mobile home (does not have to be permanently attached).

Benefit Details

The borrower does not have to be a first time homebuyer and does not have to occupy the property. There are no occupancy restrictions. Mobile home loans are acceptable and they do not have to be permanently affixed. All loans must be approved by a participating lender using their quidelines and qualifications to qualify the borrower. Gifts normally range between 2 percent to 5 percent of the purchase price. The assistance amount can go up to but may not exceed $24,999. Homebuyer Counseling / Education Required: No Owner Occupancy Required: No

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.