What is the NHF Grant?
What is the National Homebuyer Fund Grant?
Many homebuyers find it difficult to come up with the money for an ideal down payment of 20%. As a result, many down payment assistance programs, or “DPAs”, have been created at the local and state levels to aide home buyers in sourcing money for their down payments. One such program is offered by the National Homebuyers Fund in the form of a non-repayable grant.
The grant, dispersed through NHF-approved lenders, is meant to assist homebuyers with down payments and/or closing costs that the home loan agreement may accrue. The NHF DPA Grant allows homeowners to build equity faster, and carry less of a financial burden by avoiding secondary mortgage options that are usually offered to cover the same costs, and involve pesky property liens.
Benefits of an NHF Grant
- Never has to be repaid
- Reduces homeowner debt
- Promotes growth of home equity
- Covers up to 5% of the loan amount
- Compatible with VA, USDA, FHA and Conventional loan options
- Eligibility extends beyond first-time home buyers
- Creates positive trends throughout entire housing economy
If you want to learn more about the NHF grant, fill out the form below, and a home loan specialist will reach out to you