National Homebuyers Fund Downpayment Assistant Programs In general, National Homebuyers Fund, Inc. (NHF) Subordinate Loans are sized at up to 7% of the home sales price and are repaid monthly by the homebuyer over a 20-year period at some specified interest rate. Homebuyers receive a single monthly statement for both the First and Subordinate Loan and are required to make a single monthly payment covering both loans. NHF Subordinate Loans provide an eligible source of downpayment and closing cost assistance in connection with a variety of first loan options. FirstHouse: FirstHouse is designed to provide low and moderate income buyers the opportunity to purchase their first home. FirstHouse includes aggressively priced below market FHA, VA, RHS, and Fannie Mae first loans. Up to $100,000,000 in bond-financed First Loan Funding is available to be released in $5,000,000 to $10,000,000 Subseries. Optional downpayment and closing cost assistance is available in the form of a 4% grant or second mortgage sized up to 7%. ACCESS FHA: NHF Subordinate Loans may be offered in connection with FHA-insured 30-year fixed First Loans. FHA Loans offer the most flexible underwriting guidelines for low, moderate and first-time homebuyers. NHF Subordinate Loans may fund up to 100% of the homebuyer’s cash to close; there is no minimum equity contribution required from the homebuyer. FHA loan limits apply. ACCESS Conventional: NHF Subordinate Loans may be offered in connection with an ACCESS 97% or 100% Loan to Value Conventional First Loans, offering homebuyers the most flexible underwriting guidelines available for a Fannie Mae-eligible loan. NHF Subordinate Loans can fund most of the homebuyer’s cash to close, subject to a $500.00 minimum contribution from the homebuyer. ACCESS Conventional offers 30-year fixed rates 7/1 and 5/1 fixed-adjustable rate loan plans. There is also a minimum credit score requirement (currently 620 for the primary applicant). Fannie Mae loan limits and Fannie Mae income limits apply, except with My Community Mortgage. CALPERS Member Home Loan Program: NHF ACCESS second mortgage loans may be offered in connection with a CalPERS first mortgage loan for the purchase of a primary residence. NHF ACCESS second mortgage loans can fund most of the homebuyer’s cash to close, up to 7 percent of the sale price and for as little as $500 out-of-pocket. Applicable CalPERS first mortgage loans include Conventional or FHA 30-year fixed rate plans. See Program guidelines for minimum FICO scores and income limits. Learn More... NHF Gold FHA: NHF Subordinate Loans may be offered in connection with FHA-insured 30-year fixed First Loans. Offering FHA First Loans with 7%-sized, 20-year, fully amortizing Second Loans, with no price adjustments for lower credit score loans. NHF Gold FannieMae 97/7: Offers FannieMae First Loans and accommodates non-traditional credit and lower credit scores due to “extenuating circumstances”. PMI is the primary provider of mortgage insurance. Approved lenders may also use CalHFA as an eligible primary mortgage insurer, for California loans only.