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PARTNERS IN CHARITY GRANTS
The Partners in Charity (PIC) is a non-profit corporation that promotes homeownership
by offering down payment assistance programs to qualified low and moderate income
homebuyers. This programs offers free gift funds to be used towards the down
payment and closing costs for eligible FHA loan programs. Under this program,
these funds do not have to be paid back. PIC will gift up to 5% of the final
sales price on a home.
Type of Assistance:
Potential applicants for this program must first get pre-qualified for this home loan
grant. Once approved, the applicant will then be referred to an approved Real Estate
agent in the applicants area in order to find a home that qualifies under the program
guidelines. Once the home is found , all offers are accepted from the seller, and the
loan is ready to close, then the gift funds are wired to the title / escrow company and
the buyer closes on the transaction.
PIC's downpayment assistance is provided directly to the homebuyer in the form of Gift
Funds, which are wired to the Settlement/Closing Agent on the day of the
settlement/closing. The gift will be up to 5% of the home's purchase price
and can be used for the downpayment and/or closing costs.
Eligible Customers:
All persons who meet the requirements for the PIC Program.
Additional Information:
Since the Partners in Charity Lending program uses many of the same items needed for an FHA loan,
we suggest that you familiarize yourself with all the characteristics of FHA loans by
going to Important Facts and then apply online.
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FHALoan.com is a private mortgage company specializing in fha home loans and is not associated with the federal government or HUD / FHA.
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