by Heather Turner
Land Home Financial Services, Inc. (Land Home), a private mortgage banker, has announced a new partnership with the national nonprofit aimed at stimulating and expanding homeownership nationwide, National Homebuyers Fund, Inc. (NHF).
The new program, NHF Sapphire, is a true homebuyer grant available to returning and first-time homebuyers.
“Teaming up with NHF has been a goal of this organization for a long time. Every American deserves the opportunity to achieve the dream of homeownership–we took a big step in that direction today,” said Brad Waite, president and chief executive officer of Land Home.
The Sapphire program provides up to 5% of the mortgage loan amount in the form of a grant to help individuals and families meet down payment and/or closing costs. According to a company press release, the program also offers affordable interest rates, along with a plethora of options and levels of assistance to meet the varying needs of homebuyers.
Additional benefits of the NHF Sapphire Program through Land Home include:
- Generous FICO-620 /DTI-45% requirements
- Low-to-moderate income limits (qualifying income only) 115% FHA AMI Income Limits
- Available nationwide
“NHF’s partnership and collaboration with Land Home Financial Services is exciting and speaks to our shared commitment to help low and moderate income families get into homes, stabilize neighborhoods and strengthen communities. Lack of down payment funds is a common reality for many homebuyers and it is critical that we have strong lenders, such as LHFS, to support the bridge between affordable housing programs and the individual families and households who need them,” said Craig Ferguson, vice president at NHF.