National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program

What is National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program is a deferred second loan for homebuyers in Statewide, California.

• 30-year deferred DPA. Forgiveness available after 3 years when required parameters are met. Not first-time homebuyer required. Compatible with conforming, high-balance, and FHA buydown structures.
• Up to 5% of mortgage loan amount as DPA, structured as a 30-year deferred loan with 3-year forgiveness option when conditions met. Available statewide through Essex Mortgage and approved correspondents.
• Funding comes from NHF municipal-instrumentality bond program.

Do you have to pay it back?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program is forgiven after 3 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by sale, refinance, or end of 30-year term (forgivable after 3 years if conditions met).
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program sets its income limit as follows: Lender-set per program guidelines; flexible qualifying. Follow FHA guidelines for ownership of additional property.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program can be used for Single-family, Condo, Townhouse, 2-4 unit owner-occupied.

Where does it apply?

National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program serves buyers purchasing in Statewide, California.

How do you apply?

Applications for National Homebuyers Fund (NHF) - Data Mortgage, Inc. dba Essex Mortgage Deferred Down Payment Assistance Program go through the administering agency.

1. 1

   Take a homebuyer education course

   Required by the program, through Required - HUD-approved (per FHA guidelines).

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.