DownPayment Assistance Programs:
Nationwide programs that will help you buy a home
Depending on the criteria there may be
restrictions on the type of house you can
purchase and repayment may be required.
Most non-profit assistance programs are gifts
and do not require repayment.

Each  program will have its own specific
guidelines and not all borrowers will qualify for
down payment assistance.Below are a few
Nationwide and State programs. Depending on
the funding source some of the programs may
or may not be currently available.  These lists
are in no way complete and full and
rebuildcreditscores.com makes no guarantees
or warranties as to the completeness.
Nationwide Downpayment Assistance Programs

The Nehemiah Program (www.nehemiahcorp.org)

Nehemiah is the nation’s largest privately funded down payment assistance program. This is what
they can do:

  • Provide Gift funds up to 6% of the final contract sales towards your downpayment and/or
    closing costs.

  • Provide Gift funds for both first time and repeat homebuyers.

  • Provide Gift funds for both new construction and resale homes.

  • There is no repayment of gift money.

  • There are no income or asset limits.

  • No geographical restrictions

American Dream Downpayment Assistance Initiative (ADDI)

This is a fairly new program (since 2004) that provides grants to help home buyers with
downpayment and closing costs. The program assists first-time homebuyers, low and moderate
income individuals and families. Highlights of the program:

  • Grant recipients must be first time home buyers with annual incomes that do not exceed 80
    percent of the area median income.

  • A maximum down-payment grant of $10,000 or 6% of the purchase price of the home,
    whichever is greater.

  • The grants help to defray the upfront costs of purchasing a first home and can also be
    used to offset the costs of rehabilitating the property.

  • Grants may be used to purchase one-to four family home units, condominium unit,
    cooperative unit or manufactured housing.

Ameridream (www.ameridream.org)

Ameridream's purpose is to expand affordable housing opportunities to first-time buyers and low
to moderate income individuals and families who wish to achieve homeownership.  They offer
down payment assistance in the form of a gift (typically 2-6 percent of the sales price) for single
family homes valued up to $322,700 and multi-family homes up to $620,500. Gift funds can also
be used to pay closing costs. Here is how it works:

  • Contact AmeriDream for a qualified real estate professional and qualified mortgage
    professional in your area if you are not already working with one.

  • Shop for a home you like.

  • Make an offer on the home.

  • Once the contract is ratified, your lender will submit a gift application on your behalf to
    AmeriDream.

  • The Homebuyer will receive a notice of gift approval from AmeriDream.

Partners in Charity (www.partnersincharity.org)

Partners in Charity is a nonprofit organization that gifts downpayments to qualified home buyers.
There is no repayment requirement, no second mortgage or lien placed on the home.  Partners
in Charity offers from 2 to 10 percent downpayment assistance towards the home purchase.
Downpayment Assistance by State
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Downpayment assistance can come from several sources. Most commonly downpayment
assistance is given in the form of government subsidized programs and non-profit charitable
organizations.  Certain programs target lower income families, some are designed specifically for
middle income families and other programs may be for first time buyers only.
 
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