A $25,000 check from the Federal Housing Administration could get you a home
The Federal Housing Finance Agency (FHFA) is offering a $25000 loan for anyone who wants to buy a home in their city.
In an interview with Business Insider, FHFA deputy director of public affairs, Stephanie Molloy, said she had seen the number of homes in the city that are in foreclosure rise over the past year.
She said the agency has received over 5,000 requests to purchase homes from the public, which has resulted in over 2,700 homes being sold in 2016 alone.
The FHFE says the loan can be used to pay for property taxes, rent, or mortgage payments.
The agency also says that if the buyer doesn’t have a home equity line of credit (LICO), the loan will be extended by $25k for up to six months.
There are several ways to qualify for the loan.
First, you need to be living in the county in which the home is located.
If you live in a county with fewer than 10,000 people, the FHF says that’s also a good option.
The loan will then be made to you by the agency.
The borrower will then pay interest on the loan for 12 months.
The agency said the loan would be available for up, three, five, or ten years.
If you’re interested in purchasing a home, the agency recommends contacting the FHA’s Office of Mortgage Programs and Loans to apply for the FHLP loan.
If that doesn’t work out, the loan may be waived if the FHO does not apply for an FHFC loan within 12 months of the date of the application.
You can also use the loan to pay off your mortgage, if you’re in an underwater mortgage, or if you owe money to a creditor, like the IRS.
The FHFD said it doesn’t guarantee that you will get a loan, and it is not a guarantor of your loan.
For those who do qualify, the lender will be required to pay $1,000 in closing costs and $1.25 for each year you live there.
If the home sells in your city, you’ll also have to pay a $75 fee.
If a home is sold in a community that has less than 10 people, you will be charged $20 per month in closing fees.