| Closing
Cost and Down Payment Assistance
C.A.S.H.
Loan
In order to help our residents achieve the dream of homeownership, NHS
offers closing cost assistance. Through the C.A.S.H. Program, a first-time
homebuyer may be eligible for a maximum loan of $15,000 for a period
up
to 8 years. Restrictions apply; please call for further details.
Homeowner Assistance Program (HAP)
The Homeownership Assistance Program provides a second mortgage to eligible
home buyers to eliminate the need for private mortgage insurance. The
homebuyer must contribute at least 3% of the purchase price and the
remaining 17% of the down payment will be covered by the HAP Loan. Home
Buyers will be required to attend educational classes provided by NHS
to qualify for this product.
First Home - Matching Funds
NHS collaborates with local participating Lenders to offer First Home
Grants to low-income, first-time buyers. Eligible residents are required
to attend ten monthly meetings of the First Home Club and maintain a
regular monthly savings plan designed for your budget. For every $1.00
saved by residents, the lender will match by $3.00, to a maximum of
$5,000. The $5,000 will be disbursed at the Closing to help offset the
cost of the home.
For additional information CLICK
or call NHS
at (718) 469-4679 Extension 8010.
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