Home Buying Process

Money For Your New Home in One Hour

The Neighborhood Gold Down-payment Assistance Program helps families purchase a home in the neighborhood of their choice with no money down. Neighborhood Gold works with The Buyers Fund, Inc., a non-profit organization, to provide prospective homeowners with gift money to cover down-payment requirements and closing costs. To receive a grant, a buyer should work with a lender to obtain a mortgage that allows for down-payments to be made in the form of a charitable gift. If a buyer is approved for a loan, he or she can receive Neighborhood Gold gift funds, regardless of income level. The mortgage professional fills out the grant application, and will receive a gift letter from the fund within ONE HOUR. Neighborhood Gold has local representatives who can offer assistance in the application process and answer any questions before, during and after the home-buying process. As part of the grant, Neighborhood Gold offers a Mortgage Payment Protection Plan, which covers up to six months of payments and may make it easier for a program participant to obtain mortgage financing for the applicant’s home of choice. Like most down-payment assistance programs, the seller must agree to pay to Neighborhood Gold a service fee equal to the grant amount plus a percentage rate of home price determined by location. For more information contact:

Visit: www.neighborhoodgold.com

Join the Club and Get a Home For 500 Down

HomeFree USA features financial assistance programs as well as education, referral and counseling services for prospective buyers in the metropolitan Washington area. Membership is required for participation in programs. Members have access to a variety of financial aid packages related to homeownership, including money for downpayments, closing costs and access to special money-saving mortgage programs. HomeFree offers a mortgage plan requiring $500 down and closing cost grants that do not need to be repaid. Also offered to members are assistance with credit, debt, and tax issues, counseling on savings, debt and budgeting, access to a number of mortgage professionals, assistance in applying for a mortgage, classes in smart homeownership, and step-by-step counseling to make sure the member’s financial interests are protected in the home buying process. Contact: HomeFreeUSA, 318 Riggs Road, N.E., Washington, D.C. 20011. Phone: (202) 526-2000 or (800) 289-4632; fax: (202) 526-4072

Visit: www.homefreeusa.org