The United States District Court for the Eastern District of California has permanently set aside U.S. Department of Housing and Urban Development’s (HUD) rule to ban private downpayment assistance as proposed in the “Standards for Mortgagor’s Investment in Mortgaged Property” regulation published October 1, 2007.

This means that non-profit organizations such as Nehemiah Corporation can continue to provide downpayment assistance is a life line to the families who lack the financial resources to buy homes. While the Federal Housing Administration (FHA) will lend 97% of the market value, needy families have been and will continue to able to obtain assistance to make the 3% downpayment.

Nehemiah Corporation is the largest privately funded downpayment assistance programs in the U.S.

Please contact me by e-mail or phone if you or someone you know is looking for zero downpayment financing to buy a home in Cherokee County.

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