What makes a buyer qualified for the Newsong Down Payment Assistance Program?
A buyer is automatically qualified for a gift from the Newsong Down Payment Assistance Program when they are obtaining financing through an eligible loan program, and are purchasing a home where the seller agrees to participate. The Newsong Program does not have any qualification requirements other than that a buyer must be approved for a loan from a lender who accepts gift funds for use as a down payment (such as FHA), and that the seller participates in the Newsong Program to assist the buyer in buying the home. In other words, if a buyer is approved for a loan he is automatically eligible for a grant from the Newsong Program as long as the seller of the property will participate in the Newsong Program. If the Realtor or lender that you use is not familiar with the program, please direct him to our website, or have him contact us for information on this exciting opportunity.
