There are many people involved in the process of buying a home.  It is important to make sure you know exactly what part you play in the home buying process.

So, where do you fit in with HOME ?

When all participants know the roles they play and the tasks they must perform,

the purchase of the property will go smoothly and quickly!

The Seller/Builder

After the real estate agent explains the HOME grant program*, the Seller or Builder agree to participate in the HOME Grant program.  By agreeing,  the Seller and/or Builder acknowledge that they will be using HOME's Grant program and that they will make a contribution to HOME at Closing.  Sellers/Builders receive a Service Fee Receipt at Closing indicating that they made a contribution to the nonprofit.

HOME recommends always getting pre-approved for a home purchase.  You will determine whether or not you need/want to use the grant program in conjunction with your real estate agent and/or lender.  You may want to contact a real estate agent or the Builder and they can recommend a Lender. We have Lenders already set up to work with the HOME Grant program.  HOME works with any Lender that will work with us! 

HOME does not lend money -- we provide grants.

When the Buyer finds the home he/she wishes to purchase and a contract is submitted, the Lender or Real Estate Agent or buyer requests the down payment grant from HOME via the HOME Worksheet.

The real estate agent has a large part in the home buying process.  But for HOME's grant program, the real estate agent's role is simple: 

Explain the HOME grant program to the Seller and the Buyer.  Have the Seller agree to the amount of the gift that will be contributed to HOME at Closing.  Have Buyer complete the HOME Application.  Either you or the Lender will complete the HOME Worksheet and fax both documents to the nonprofit. All HOME Worksheets must be received by HOME at least 48 hours prior to the settlement of the loan.

The Lender or Loan Officer and the Buyer should discuss financing for a mortgage and using the HOME program before looking for a home.

Once the Buyer executes a sales contract and you have a live application, either you or the real estate agent will complete the HOME Worksheet and fax to our offices.

While completing the form, please check to be certain that the information is complete and legible. All HOME Worksheets must be received by HOME at least 48 hours prior to the settlement of the loan.

Title/Settlement companies will receive Title Instructions clearly outlining the steps that the Closer needs to take to implement the grant at Closing.  Receiving the HOME worksheet is the formal request for a grant and triggers Title Instructions being issued.

Per the Title Instructions, complete the HUD-1 statement, have Seller sign the Seller Authorization Letter, withhold the HOME contribution from the Seller's proceeds, have Seller sign the Service Fee Receipt, and use these fund to fund grant given to buyer. 

* HOME is happy to explain the grant program to anyone interested. Contact us and we will schedule a time to answer your questions or present the grant program to you or your office.