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Q: |
Can
this program be used for FHA as well as a conventional loan? |
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A: |
Check with your
lender to determine if they can use the program.
HOME's
grant funds may be used for conventional mortgage programs that accept
gift funds. |
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Q: |
Does the Buyer have to be a first-time homebuyer? |
|
A: |
No.
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|
Q: |
Does a Buyer have to repay the funds received through the HOME grant
program? |
|
A: |
No.
This is a true grant and does not need to be repaid. |
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|
Q: |
Does the
HOME Grant
program only cover single-family homes? |
|
A: |
No. The grant funds for this program can be used
to purchase single-family homes, condos, town homes, duplexes, and
more. HOME Grant
provides down payment grants for investment
properties also. |
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|
Q: |
Are
there any geographical restrictions? |
|
A: |
None! Well okay, must be in the United States. |
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|
Q: |
How
are the grant funds requested and how long does it take to receive
them? |
|
A: |
The grant funds are requested by
submitting the HOME Grant
Application and
Worksheet 48 hours prior to
closing. Please contact
HOME
Grant should you need to make your request in a shorter time
frame. Express
same day funding available. |
|
Q: |
What is HOME's federal tax ID number? |
|
A: |
MISSION BRANCH--HOME
Grant tax ID number is 58-2665709. |
