Here are some answers to FAQs:
How much does a buyer need using Futures? Zero
What can the money be used for? Part or all of any cost required by your lender to qualify for your new home
Are there income limits? No, not to receive the gift. But remember you must meet all requirements of your lending institution
What's the catch? There isn't one. Futures has set aside, and continues to raise, funds to assist in the buyer's requirements of funds needed for purchase. Not only will you not pay a dime for this gift, but there is also no lien or mortgage placed against your propert. We charge the seller, who also benefits from participating in the Futures Program.
How do buyers qualify? Buyers must first qualify for a home loan through a mortgage professional. The only difference is that we are going to provide you with the down payment.
How do I get the money?
After you qualify for the loan, your lender will request the funds. If your lender has any questions, have them contact us.
For more information go to
www.fhap.org
Futures Program?
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