Down Payment Assistance For New First Time Home Buyers

Seller Booklet

Buyer Booklet

Home Listings

Down Payment Assistance Program Benefits

Who has the benefits? Everybody! Sellers now have a better chance of selling their homes faster, and at full asking price. More qualified buyers equal less time on the market. Less time on the market equals savings of interest and expenses. Buyers can buy now without having to wait, take advantage of tax breaks, and equity buildup reserved by today's homeowners. Buyers can buy now at today's prices instead of expected higher prices in the future. Lenders, realtors and builders benefit by having new marketing strategies which create more business and help more people own more homes, plus access to the Referral Network. It's a win-win situation for all.

Down Payment Assistance is probably the best gift program available today. It is fast, easy to use and flexible enough to be compatible with many types of loans offered by lenders. Imagine what "ZERO DOWN - GIFT MONEY" can mean to you. Newsong Down Payment Assistance is designed to work efficiently with FHA and many other loan programs to close more homes for more people!

Below are some of the benefits of the Down Payment Assistance Program:

Low Fee - $250

Just one form to fill out

Gift funds up to $50,000 - not just 3%

Compatible with FHA/VA and many other loan programs

Gift funds may be used towards closing costs and/or to buy down the rate

No downpayment requirements - no cash investment required by borrowers

No income restrictions

No asset requirements

No reserve requirements

No registrations required by the realtor, lender or closing agent

No homebuyer education required

No geographic boundaries in the United States

No extra qualifying required when approved by lender

No underwriting or credit checks

No recapture clauses - the buyer never needs to pay it back

No property Inspections, certifications or homeowner's warranties required

Sellers can market their properties to more potential buyers

Homes can sell 25% faster than properties that require a down payment

Referral Network - Area applicants referred to lender and realtor participants

Great fast service - same day funding with receipt of paperwork before 12:00 noon CST

Downloads - all forms available on Internet

Online or fax application

Buyers qualify for gift funds by getting approved for a home loan from a lender who accepts gifts from a nonprofit organization, and by purchasing a home from a seller who agrees to make a donation to the program after the home closes. Money given to the buyer is a true gift. If you need a lender go here!