Everything You Need to Know About the National Faith Homebuyers Program
For many people, homeownership feels unattainable. Navigating the homebuying process, from budgeting and financing to credit scores and closing, can feel like a daunting challenge.
At Ross Mortgage, we continually seek out new and innovative ways to not only provide our customers with the best options for financing the purchase of a home, but also work to identify unique, specialized programs designed to make the homebuying process less complex.
To support that continued effort, Ross Mortgage is pleased to partner with the National Faith Homebuyers Program. Here’s everything you need to know to get started.
What is National Faith Homebuyers?
Founded in 1996, the National Faith Homebuyers has counseled over 7,000 families since its inception and has no intention of slowing down. As a nonprofit 501(c)(3) organization, National Faith Homebuyers’ objective is to assist people who need extra help purchasing and staying in a home.
The National Faith Homebuyers program first began in Washtenaw County, Michigan and has expanded to assist homebuyers in Wayne County, Michigan and Atlanta, Georgia. The program is eager to educate hopeful homeowners and help streamline advanced processes.
What are the features of the program?
The National Faith Homebuyers Down Payment Assistance (DPA) program provides Michigan residents up to $14,999 for existing houses in eligible cities. This loan is forgivable after five (5) years at 0% interest.
Who qualifies for the program?
All homebuyers are required to not have owned any other residential property at the time of application, and may not have owned a home within the last 3 years.
Check and see if you are located in a city* that qualifies for the Down Payment Assistance Program here.
*Please note that cities change based on availability.
What can Ross Mortgage do to help?
“The National Faith Homebuyers Program is a fantastic opportunity for homebuyers in our community,” said Tim Ross, Ross Mortgage CEO. “Our team is thrilled to provide access to the program, as well as other programs such as the Michigan First-Time Home Buyer Savings Program, and showcase another reason why homebuyers should choose Ross Mortgage.”
How can I apply for the program?
Contact us today if you’re thinking about applying for the National Faith Homebuyers Program or would like to learn more. Our team of professionals are prepared to answer any questions you have.