Buy a Home in Walnut Creek with a Grant… What?

Published April 30th, 2008 in Walnut Creek, Buyer advice, Sellers, REO, Contra Costa County, Concord, Multiple Listing Service, Market Updates. by Sam Benson Tags: No Tags.

Homes in Walnut Creek and the 680 corridor have been excluded from Federal and State grants for years. The purchase price and loan amounts were always too high. The federal stimulus package continues to assist people who have the income to support the monthly mortgage payments to live in Walnut Creek and central Contra Costa County. And here’s how.

The Nehemiah Program has been around for decades it has helped over a quarter of a million Americans purchase homes. Unlike some down payment assistance programs, Nehemiah offers down payment help to anyone who qualifies for an approved FHA loan. There are no limits on income or assets, but buyers must have an FHA loan or be pre-approved for an FHA mortgage.

Nehemiah will allow up to 6% of the final contract sales price for down payment and/or closing costs. It’s available for first-time and repeat homebuyers. You can use it for new construction and resale homes, with no geographical restrictions.

This means a FHA loan up to a $750,000 loan amount with a supporting Nehemiah grant to cover the down payment. I’m sure certain restrictions are attache to this product, but if you want to buy a Walnut Creek home with nothing down, this may be one fo the ways to do it.

2 Responses to “Buy a Home in Walnut Creek with a Grant... What?”

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1 Top 5 Blog Posts of the Week | Wexzilla - real estate AZ Pingback on May 26th, 2008 at 8:23 am
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Real Estate Notes

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@clancycnn This is the break we've been looking for, How lucky can you get? 2009-10-14
@clancycnn I'll do my part, a tee shirt or hat. 2009-10-02
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@clancycnn I don't understand this guys end game. 2009-09-15
@clancycnn Neither, just bad timing. 2009-09-08
@clancycnn Michael Jackson visited the Planet Earth to give us great music. 2009-09-04
Real estate in Contra Costa County shows significant signs of activity. We still need more inventory. Thinking of selling your home? 2009-08-21
#clancycnn doesn't it sound like there's more to the story? Are Libian's giving something to England and US? If not keep in custody. 2009-08-20
@clancycnn It's whirled peas 2009-08-11
Inman Connect this week in San Francisco will shed light on the power of social networking for buisness and pleasure. 2009-08-05
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@realestatezebra thanks for the PLUG 2009-07-16
@realestatezebra enjoying your webinar 2009-07-16
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