NHSA SINGLE FAMILY NON-RECOURSE LOAN PRODUCTS

NHSA First Mortgage Non-Recourse 502 - Leveraged Loan Program

Leveraged Loans are loans originated by a participating lender who is authorized to provide at least 20 percent of the total financing and to close the first lien position simultaneously with a USDA RD 502 Direct Loan. NeighborWorks Organizations acting as lenders fund the first lien; Rural Housing Services takes a second lien on the same property. A joint closing will be conducted and a single settlement statement provided. For a program description and Correspondent application package, select the link under the Resources column.

NHSA First Mortgage Non-Recourse FHA Loan Program

NHSA will facilitate approved loan correspondents to originate mortgages under the Non-Supervised Federal Housing Administration (FHA) guarantee program. Learn More

Just Price Loan Products

Just Price loan products are an affordable alternative to more expensive and riskier subprime lender programs. Just Price purchase, refinance and rehabilitation loan products were designed to accept thin files and nontraditional and alternative credit sources—without high costs or rising mortgage payments.

Designed to keep the homebuyers’ best interests at the heart of the lending process, Just Price loan products provide features that rival or surpass most conventional mortgage products:

• Low 30-Year Fixed Rates
• Borrower Contribution of Only $500
• No Prepayment Penalties
• No Reserves Required
• High Loan-To-Value First Mortgage and Refinance Products
• Easy to Access Pre- and Post-Closing Financial Education and Support

All borrowers must complete a HUD-approved homebuyer education program (accessed in person, over the phone, or online).

Fannie Mae's MyCommunityMortgage™ Loan Products

This affordable, 97% LTV loan was designed for under-served markets and features flexible underwriting. Learn More

Resources

502 Program Description and Application Package

FHA Loan Program Description and Application Package

Rehabilitation Program Feature Matrix (Available to NeighborWorks™ organizations only)

Rehabilitation Program Checklist (Available to NeighborWorks™ organizations only)

Just Price Loan Product Feature Matrix

Correspondent Lender Application Package