Tacy Nichols

Tacy Nichols
Mortgage Consultant
Southern California
DRE License # 01144923

(909) 376-1334

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HART

Housing Action Resource Trust

The HART gift program offers homebuyers down payment
assistance in the form of direct GIFT!

The specific purpose of our program is to assist prospective homebuyers across the nation who qualify for a first mortgage loan, but fall short of the down payment and other closing costs essential in purchasing a home.

Homebuyers do not need to be first-time homebuyers to qualify for HART gift and can receive up to $15,000.00! (The amount of the gift is based on the homebuyers need and is not a set percentage of the sales price.) The HART gift funds can be used for the following:

Down Payment
Closing Costs (recurring and non-recurring)
Pre-paids
Rate buy-downs

Buyer Regulations

It's as easy as.
1. Buyers must qualify for a primary mortgage loan
2. Buyers must occupy the property purchased with HART
3. Buyers must have Builder/Seller participation

Buyers may purchase a home with little or no money down with the help of the HART program. HART may be utilized with any loan package that allows gift funds from a non-profit.

The seller's/builder's participation is an important factor in helping to support the HART non-profit organization and enable HART to continue in its efforts in assisting future homebuyers. By making a HART non income tax deductible contribution after closing, the seller/builder helps to replenish HART’s “blind mixed pool of funds”.

Who pays the HART fee?

One of the great things about the HART Program is its flexibility. The HART fee of $350.00 or $500.00 may be paid by the buyer, seller/builder, broker, lender, realtor or split between all parties.

Buyer: If the buyer pays all or any portion of the HART fee, the fee must be collected and submitted to HART along with the buyers application.

Seller/Builder: All or any portion of the HART fee paid by seller/builder is exclusive to the contribution and will be collected after closing. This fee and contribution will not apply if the transaction is not completed.

Lender/Broker/Realtor: Any amount of the HART fee paid by the Lender, Broker or Realtor will be collected at closing. In addition, the Lender, Broker or Realtor must submit a copy of the "HART Fee Form" to HART as well as the Settlement/Closing Agency.

It's That Simple!

 

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Please call me to discuss your needs, goals and even your crisis. The home market is a very different place today. With 18 years in the business, I have the answers and the resources to get the job done.

Have a blessed day.
Tacy Nichols, Mortgage Consultant, (909) 376-1334