The Neighborhood Gold® Down Payment Assistance Program has helped thousands of families all over the country move into a home with no money down.

One of the best investments for any family is a home. And while most families can afford a mortgage, it’s difficult to find the funds for a down payment. We believe that every hard working family deserves a home, regardless of how much money you can put down. We can help you turn your next rent payment into your first mortgage payment on a new home.

The largest obstacle in purchasing a home is the down payment. Not everyone has thousands of dollars saved up. Or, if families do have savings, they may choose to keep it for a rainy day. That’s OK! Neighborhood Gold understands how important these decisions are. Neighborhood Gold works with The Buyers Fund, Inc.™, a non-profit organization, to provide grants for prospective homeowners. This money comes from an existing pool of funds and can be used for a down payment or closing costs per FHA guidelines, getting you the funds you need without an additional monthly payment. It’s also compatible with Conventional and Sub-Prime loans. Plus, you can get exclusive Mortgage Payment Protection at no cost. This insurance covers the first 12 months of the loan and can pay up to six, full, monthly mortgage payments. You can also save 50-75% off the second year renewal, if you sign up for coverage up-front.

How The Program Works

There truly is no place like your own home

The Neighborhood Gold® Assistance Program is a very simple program for homebuyers to qualify for. Homebuyers must qualify for a loan that allows gift funds. It’s that simple! We at First State Mortgage Eastpointe, LLC will send in the one page grant application. We will receive a gift letter from Neighborhood Gold®  within an hour stating you have been approved for the grant. Neighborhood Gold even coordinates and reserves all the funds.

With the Neighborhood Gold Program, the seller gets full asking price for their home while agreeing to pay a service fee to Neighborhood Gold. This remarkable method allows you as the buyer to get into a home with no money down while the seller gets the desired price and can sell their home faster.

“We saw this home for sale in a wonderful neighborhood close to my mother. We talked about borrowing money from our family, but I didn’t want to do that. I was so surprised and relieved to hear about Neighborhood Gold. And it was so easy to apply for.”

Mortgage Payment Protection Plan

As part of the grant, Neighborhood Gold® offers insurance in the form of the Mortgage Payment Protection Plan. This policy will cover up to six months of payments, offering unparalleled security for the buyer and lender during the first year of the loan. Enrollment is completed with the grant application. Plus, if the borrower signs up front for a second year, he/she will save 50-75 percent off the regular renewal rate.

Mortgage Payment Protection Plan Benefits

•	Pays up to 6 full monthly mortgage payments (PITI)
•	Pays up to $1,500/per month monthly payment
•	No additional underwriting
•	Simple enrollment form
•	Borrower will be offered renewal
•	Vesting period is 60 days
•	Underwritten by A+-rated insurance company

Eligibility Requirements

•	Borrower cannot be self employed, an independent contractor, or active military
•	Borrower cannot own greater than 25% interest in his/her employer's business
•	Borrower must be between the ages of 18 and 66.
•	Borrower must live in the 48 contiguous states, Alaska, and the District of Columbia.

Have more questions please feel free to give us a call or email us, we are your Neighborhood Gold® Mortgage Specialist.

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