Posted by Jason Blackburn on August 19, 2003 at 19:42:02:
I am the South Texas Program Director for Neighborhood Gold, and would like to clear up some issues posted by Erin.
First, Neighborhood Gold provides grants to approximately 2200-2500 families monthly Nationwide. There is an abundance of sellers that participate in the program, including the largest national homebuilders. For instance, in San Antonio there are over 4000 properties that qualify for purchase with Neighborhood Gold and 6 of the top 10 builders participate in the program. Most, however, do not take advantage of listing their home on our website, which is free of charge.
Second, most grants are provided on FHA home loans, which would not require the buyer to come up with more than 10% of the sales price to qualify for purchase. Even those with poor credit can utilize the program.
Lastly, this program is not just used by first time homebuyers. It is used by those that do not have all the down-payment neccessary, by those who wish to pay off some debts with their own funds and use our grants to purchase a home, and by those that wish to preserve their savings and still purchase a home.
I encourage those that have questions to contact Neigborhood Gold toll-free at 888-627-3023 and ask to speak to their local program director to receive up to date local information.
South Texas Program Director