The Nehemiah Program Gifts Down Payment and Closing Costs

You don't have to be a first-time home buyer to receive gift funds from the Nehemiah Program.

But you do need to intend to occupy the home. Yup, that's right, if you have fairly decent credit and want to buy a home right now, you don't need a big pile of cash. In fact, you can have no money for a down payment and zero funds to cover closing costs and still get into a home using Nehemiah in conjunction with an FHA loan. There are no restrictions on how much money you can earn, either. A home buyer who makes $25,000 a year can buy a home using the Nehemiah Program just the same as a home buyer who earns $100,000 a year.

Don't wait for the other shoe to drop. There is no catch. This is a fabulous gift program for home buyers, although, you had better hurry before the program goes away. There is a movement to shut down the nonprofit almost any day now, and it almost happened last year . . . read more about the Nehemiah Program.

More Articles by Elizabeth Weintraub:

• Buying Your First Home
  
• How an FHA Loan Works
  
• Should You Buy or Rent?

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}