Partners in Charity

Partners In Charity is a non-profit group offering down payment assistance on properties such as single-family homes, condominiums, and multi-unit properties. Assistance is also available for rehabilitation programs. Partners In Charity funds are offered to those who qualify for FHA loans or are pre-approved for FHA loan amounts.

There is only one requirement to use the Partners In Charity program; you must intend to occupy the building you purchase. You can't get down payment assistance for purchasing a home you intend to rent. Partners in Charity offers:

• Need-based assistance from 2% to %10 of final closing price.
• Funds can be used for closing costs and down payment.
• This assistance can be listed as the source of down payment in the pre-approval process.

The Partners In Charity program can be listed in your "good faith estimate" for sources of down payment funds. It's important to decide whether you want to use this program in the early stages of your planning, preferably before submitting a request for pre-approval of an FHA home loan. Your loan officer can determine your needs to enter the correct amount of the down payment on these forms.

Down payment assistance programs generally require the seller to pay a fee to participate. This fee is considered a payment for services rendered and not a tax-deductible charitable contribution.

Since this program is no longer available, we recommend that you get pre-approved for a low down payment FHA home loan.

FHA GRANT ASSISTANCE PROGRAMS

• Ameridream
• Nehemiah
• American Family Funds
• Familiy Home Providers
• Futures Home Assistance
• Grant America
• Housing Action Resource Trust
• Newsong
• Partners in Charity
• Responsible Home Ownership
• Quickdown

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