lending
We offer down payment assistance loans and help with home loans for individuals and families with low to very low incomes. Our goal is to make homeownership more affordable and accessible.
Our financing, loan products, and down payment assistance programs come from various municipalities. Additionally, we offer a portfolio of lending products through various banking partners.
The list grows daily. Current offerings include:
WISH Program
USDA 502 and 504
The first step to closing on a home, is a mortgage that fits your needs and financial goals. Whether you are coming to us as a referral from your Loan Officer, Real Estate Agent, or a County/City program, WE KNOW LENDING and are eager to help.
Our financing, loan products, and down payment assistance programs come from various municipalities. Additionally, we offer a portfolio of lending products through various banking partners.
The list grows daily. Current offerings include:
- WISH Program
- CalHome Program
- USDA 502 Direct Loan Program
- USDA 504 Direct Grant/Loan Program
FINANCING PROGRAMS & dOWN PAYMENT ASSISTANCE
WISH PROGRAM
- First-Time Homebuyer Program
- Homebuyer counseling with certificate
- Meet 80% or below of the HUD area median income
- $30,806 in downpayment or closing cost assistance
- Borrower to contribute 4-1 match $7,701.50
mIDDLE-INCOME DOWN PAYMENT GRANT
- First-time homebuyer
- 80% up to 140% of area median income (AMI)
- $50,000 for down payment and closing costs
- Borrowers must contribute a minimum of $10,000
- Complete a homebuyer counseling program with a certificate
Reach out to lending@nwsac.org
CalHome PROGRAM
- First time homebuyer
- Utilize for Down payment and closing cost
- 30-year deferred loan
- 3 percent interest rate
- Low -and-moderate income
USDA PROGRAMS
Unlock Affordable Rural Homeownership with the Section 502 Direct Loan Program or the 504 Direct Loan Program or Grant.
502 DIRECT LOANS
- Property must be in a Rural Area
- Must occupy property as primary residence
- For low and very low-income borrowers
- Interest rate when modified by payment assistance, can be as low as 1%
- Up to a 33-year term and 38-year term for very- low-income applicants
- No down payment required
504 DIRECT LOANS/GRANTS
- 504 Loans-50% AMI
- 504 Grants-50% AMI and one applicant 62 or older
- Loan Maximum-$40,000
- Grant Maximum-$10,000 (lifetime maximum)
- Grant/Loan combined Maximum-$50,000
- Loan-20 years at 1%
- Grant-Full repayment if sold within 3 years otherwise it is forgiven
income eligibilty
services
- Income Determination (First-time homebuyers program)
- Income Determination for Inclusionary Renters
- Review/Renew Income Determination (within 12 months)
- Loan Servicing
Subordination requests
NeighborWorks Sacramento Region offers the option to subordinate loans held within its portfolio under specific conditions:
When a borrower submits a subordination request along with the necessary documentation and pays the required fee, we will review the request. Subordination will be considered if the terms outlined in their policies are met.
To ensure timely processing, it is imperative that the full application, document package, and payment are submitted together. In normal circumstances, NeighborWorks aims to process all subordination requests within five business days from the receipt of the complete application, document package, and payment. However, in instances where special circumstances arise, additional time may be required for review and processing.
PAYOFF REQUESTS
To request a payoff, please email loanservicing@nwsac.org and provide the following information for us to send a payoff letter.
· Borrower’s name
· Property address
· Loan number
· Date of payoff
· Signed Borrowers’ authorization.
· Requestor’s name, phone number, email address,
and escrow number (if applicable).
Financing programs &
DOWN PAYMENT ASSISTANCE
We specialize in offering loan products and programs that bridge the gap between your dreams and homeownership and sustainable living. See links below for ways we can help you reach your goals.
CalHome PROGRAM
CalHome PROGRAM
The CalHome Program is California’s initiative to support households with financial assistance for housing needs. Administered by the California Department of Housing and Community Development (HCD), CalHome provides grants to local governments and nonprofits for programs like down payment assistance, home rehabilitation, and first-time homebuyer assistance. Our goal is to boost homeownership opportunities, stabilize neighborhoods, and enhance housing quality statewide. Explore how CalHome can help you achieve your homeownership dreams!
BORROWERS
In order to begin the process, please download the CalHome application and disclosures below.
In order to begin the process, please download the CalHome application and disclosures below.
Once complete, please submit:
CalHome Application
NeighborWorks Disclosure
Lender Approval Letter
You will then be placed on a list to be drawn from lottery. Once the borrower is chosen, we will notify the borrower and the lender.
Once complete, please submit:
- CalHome Application
- NeighborWorks Disclosure
- Lender Approval Letter
You will then be placed on a list to be drawn from lottery. Once the borrower is chosen, we will notify the borrower and the lender.
Sacramento Neighborhood Housing Services, Inc. dba NeighborWorks Sacramento is committed to providing equal access to all programs and services, and does not discriminate on the basis of race, color, national origin, sex, disability, or age, in accordance with Title VI of the Civil Rights Act of 1964 and Section 504 of the Rehabilitation Act of 1973.
Individuals with disabilities requiring reasonable accommodations to access our services should contact:
Dianne Watters
Email: dwatters@nwsac.org
Phone number: (916) 530-2431