Anyone familiar with NeighborWorks Home Partners Program

[Fong Lee]

Is anyone familiar with Neighbor Works Home Partners Program that is a down payment assistance plan in the twin cities? A little bit about the program is:

NeighborWorks Home Partners is proud to be a provider of Project Reinvest: Homeownership Down Payment Assistance (DPA.) If you are a qualified buyer, you can receive a loan of $10,500 to be used toward a down payment on a home in Minneapolis or Saint Paul. The loan does not have any monthly payments and does not accrue interest, and is paid back when you sell the home. This may reduce the amount of the principal on your primary mortgage, so your monthly payments may be lower.

Your loan officer will submit your application for you. Your primary mortgage must be with one of these approved providers and your loan officer must be certified for this program. Please let your loan officer know you are interested in Project Reinvest: Homeownership DPA. Please allow 30 days to close from the time your application is submitted.

Once your application has been received, your loan officer will contact you for any additional documents we need.