What expenses can I use the NeighborhoodLIFT DPA Funds to cover as part of my purchase of a home?
December 8, 2014
NeighborhoodLIFT down payment assistance funds may be used for any eligible purpose including closing cost assistance, down payment assistance, or borrower minimum out-of-pocket investment if allowed by the first mortgage loan program. NeighborhoodLIFT funds may not necessarily cover the closing costs or out-of-pocket requirements of an FHA first mortgage or other type of first mortgage loan. You should consult directly with your first mortgage lender and Alamo Community Group to determine how NeighborhoodLIFT program funds may be used in connection with your home purchase.