Want to Buy a New Home but have no money for a down payment?

100% Financing Is Available!

FHA backed loans allow for grant or gift funds to create the 3% down payment requirement! Many programs exist for the 3% grant or gift money but the simplest I’ve found is The Nehemiah Program.

The Nehemiah Program is truly a “No strings attached” deal! No repayment, No recapture period, No minimum length of ownership, Not just for first time buyers!

How does it work? FHA allows for seller paid closing costs up to 6%. The Seller agrees to cover 6% of the buyer’s expenses. 3% covers the down payment and the other 3% cover their closing costs and prepaid expenses! As long at the buyer qualifies for a FHA loan, they automatically qualify for the Nehemiah program; it’s really that simple!

Other benefits! Often, the buyer is short on cash or cash reserves. With this program they create cash reserves by keeping their cash in their bank account…. making it easier to qualify for the FHA loan! How great is that!

Use this program as a great opportunity to make your client’s dreams come true…a new home!

Feel free to email me your mortgage scenarios for quick answers for all your mortgage questions!

Thanks

Joe Cook

President

Water Street Mortgage Corporation

Direct: 612-701-9927 Toll Free: 1-800-444-8914

email: joecook@waterstreetmortgage.com