Nehemiah Corporation of America
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Nehemiah is a non-profit organization based in Sacramento, California specializing in homeownership, affordable housing and community development through various programs and affiliate organizations.
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[edit] The Nehemiah Program
Founded in 1997, The Nehemiah Program has assisted over 225,000 low- to moderate-income families working with Realtors, builders and lenders nationwide to provide nearly $900 million in downpayment gift funds.
The Nehemiah Program provides gift funds for downpayment and closing costs to qualified homebuyers using an eligible loan program, such as FHA or a conventional loan that allows gifts from charitable organizations. Gift Funds of 1% to 6% of the final contract sales price can be received, depending on the particular needs of the homebuyer.
There are 4 basic program requirements:
- Both the homebuyer and seller must agree to participate in the Nehemiah Program,
- Homebuyer must use an eligible single-family 1-4 unit loan program such as an FHA loan or a conventional loan that allows gifts from charitable organizations,
- Homebuyer must purchase a Nehemiah participating home,
- Homebuyer must be the primary occupant of the property (non-occupant co-borrower(s) may assist primary occupant to qualify for the mortgage).
[edit] Nehemiah Community Reinvestment Fund
Below market loans geared towards low income home buyers and distressed properties and investors looking to invest in low income home buyers and distressed properties.
[edit] Sacramento Valley Fund LLC
A specific portion of the NCRF geared towards fighting sprawl and providing assistance for development in the Sacramento Valley in Northern California.
[edit] Nehemiah Community Foundation
A grant foundation for 501(c)(3) eligible community based issues and initiatives. The Foundation is geared towards certain, urban portions of the U.S.
[edit] Nehemiah Urban Ministry Initiatives
A fund geared towards assisting Urban Christian charitable initiatives.
