The Genesis Program is not restrictive like many bond or affordable housing programs that rely on government granted money. Just a few of the advantages are:

Flexability - Gift Funds may be used for any or all of the following:

Down Payment

Closing Costs

Prepaids

Payoff Debts to Qualify (Not available with FHA Loans)

$22,500 Maximum Gift - Not just 3% to 5% like similar programs

$0 Downpayment - NO cash investment is required by the borrower

No Income Limitations

No Asset Requirements

No Underwriting - Genesis does not underwrite or “Approve” the borrower

Not Restricted to FHA loans

No Geographic Restrictions

Eligible Property Types – Existing (Resale) or New Construction:

Single Family (1-4)Units

Condominimums

Townhouses

Manufactured/Modular Homes

Funds are NOT restricted to First Time Home Buyers

No Registration by Mortgage Company, Realtor, or Closing Office required

Expedited Funding

Genesis can fund within 24 hours of receipt of paperwork

same day funding guaranteed if paperwork is received before 12:00 noon

Reduced Requirements

No Roof Certification,

Homeowner’s Warranties,

or Homebuyer Education needed.

Low Fee - 1% of the Sales Price or $750, whichever is less