NHF is a nonprofit organization that provides down payment assistance grants and other forms of support to help low and moderate income individuals achieve homeownership in US.
The NHF grant is typically provided as a second mortgage that is subordinate to the primary mortgage. NHF grants can range from 2% to 5% of the purchase price of the home.
To qualify for NHF assistance, homebuyers must meet certain income and credit requirements, as well as complete a homebuyer education course.
NHF grants are designed to assist low and moderate income homebuyers. The income requirements vary depending on the program, location and the size of the home being purchased.
The amount of NHF grant depends on the specific program you qualify for and the funding availability at the time of your application. The maximum grant amount is typically $15,000.
NHF offers grants or 3 year forgiven loans. NHF loan has 3 year repayment period after which the entire loan debt is totally erased. NHF help can be combined with conventional, FHA, VA or USDA loan.