There are many institutions available to assist home buyers in the home loan process, one of which is The Partners in Charity Program or PIC. Provided that the homebuyers meet two conditions PIC will gladly give the borrowers a gift equal to 3%, 4%, or 5% of the final sale price of the home. These funds are intended to be used to cover the down payment and closing costs.
The criteria that need to be met are as follows:
(1) The homebuyers need to qualify for one of the many eligible home loan programs
(2) The homebuyers must complete a Home Ownership Counseling Course
When the criteria are met and the gift has been given to the home buyers they need not worry about repayment and this gift can be used for most types of homes in most geographical locations. Your home loan officer at MD Mortgage Home Loans will be able to assist you in choosing a home loan program and appropriate Counseling Course.
For more information contact:
MD Mortgage Home Loan, Toll-Free: 888-968-8808
Partners in Charity, Toll-Free: 800-705-8350
|
|
