The Home Downpayment Gift Foundation can help you. We have money available for potential homebuyers like you. There is no catch! Our funds are a charitable gift to you. This is not a loan that will need to be repaid. You are why the Home Downpayment Gift Foundation exists! Whether you are buying your first home or not, you can take advantage of our Gift Fund Program.

About our Program

Our Program is available to those who can show need. Today, most mortgage providers have loan vehicles that allow for Charitable Gifts.  Whether you are interested in FHA financing or conventional lenders, we can help!  Our Program is simple to use and requires that you fill out one short application.  We suggest that you do this with the help of your mortgage professional.

In order to qualify you must purchase a home that has been enrolled in our Program.  If the home you would like to buy is not in our Program let us know.  You must also be using a mortgage program that allows for “gift funds”.  Finally you must fill out our Program Application and await approval from us.  We promise an answer within 24 hours.  When approved for a gift, the Home Downpayment Gift Foundation will agree to wire the funds to the closing agent.

How Charitable Gift Funds Can Be Used

• Towards the down payment of a home
• Towards the buyer's closing costs

What about 100% Financing Programs?

Since we offer cash gifts to buyers, you are not going to use 100% financing.  In most cases you will be providing 3%-6% in a down payment.  What this means to you is that you can actually qualify for lower interest rates!  Most 100% financing programs carry higher interest rates for those who use them.

Step-By-Step On How Our Program Works

1. A homebuyer will speak with a Real Estate Professional or a Mortgage Professional about purchasing a home. At that time it is usually determined if the buyer lacks the necessary funds for either the down payment or closing costs
2. If so, the buyer is then introduced to our Program by the Realtor or Lender. Together they determine the amount of the gift they will need from us. Our Gifts can be up to $30,000.
3. The Mortgage Professional will, on behalf of the buyer, apply for a mortgage approval with a Loan Program that accepts Gift Funds
4. Once the buyer finds a home they like, they will make the seller an offer with the contingency that the seller pays a service fee to the Home Downpayment Gift Foundation. Click here for sample addendum language.
5. Even if a contract on the home has been written you can still use our Program. We can help when last minute problems arise. Call us for details.
6. The service fee will usually range between 3 - 6% of the final home sale price.
7. The Funds are used by the Foundation to replenish our Gift Fund, to provide funding for other needy causes and to pay administrative expenses.
8. If the seller agrees to the terms of the offer, the buyer, with assistance from their mortgage professional, will fill out our application.
9. At the same time, the seller will receive from the real estate professional our Seller Enrollment Form and fill it out.
10. When the Buyer Application and Seller Enrollment have been completed they together are faxed to us at 202-234-7535.
11. The Foundation will in turn provide an answer to the applicant within 24 hours of receiving both the Buyer Application and the Seller Enrollment Form.
12. 24 hours prior to the home closing, the settlement agent must contact us and make arrangements for the funds to be wired.
13. We will make sure the funds are there for the settlement so that the buyer has the money they need to purchase their home.
14. Following the closing, the service fee from the seller will be wired to the Foundation by the settlement agent.

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