Our Services

Home Buyer Education:
Our Homebuyer Education counseling course is designed for first-time homebuyers who anticipate the need for financing through an affordable housing loan program. The most favorable point in time to begin this counseling program is when a prospective buyer anticipates a home purchase within the next six to twelve months. In any event, this course should be completed prior to loan closing.

This is an educational program developed to provide homebuyers with the knowledge necessary for them to become successful and long-term homeowners. The primary objective of the pre-purchase counseling is to ensure that homebuyers have a good understanding of the home buying and ownership processes and to identify any potential weaknesses in the buyers’ comprehension or financial capacities.

Immediately following the successful completion of the homebuyer education-counseling program, a certificate of completion is issued to the lender as evidence that the prospective borrower(s) understands the course content and the responsibilities of homeownership.

Mortgage Protection Plus Program:
Home Mortgage Protection Program will provide up to six months of mortgage payments if the borrower (or co-borrower) becomes involuntarily unemployed. That means that while you seek new employment, we will be there by your side making sure your home is secure.

This program is offered as our Platinum Program which provides mortgage payment coverage for the first 12 months of the loan (coverage is renewable after the initial 12 month term). Within 30 to 45 days after you move into your new home, the packet will arrive that explains the mortgage protection service and how to initiate payment in the event of an involuntary job loss.

Program Benifits

• Up to six months of Mortgage Payments
• Coverage up to $1800 per month
• Easy enrollment process
• Program underwritten by one of the industries top insurance company
• The borrower will have the opportunity to renew the insurance

Eligibility Requirements:

• Employed full time (minimum of 30 hours per week)
• Vesting period is 60 days
• Cannot be self employed, an independent contractor, or active military
• Cannot own greater than 25% interest in his/her employer's business
• Must be between the ages of 18 and 66

There are many homebuyers who during their first year of home ownership encounter short-term financial difficulties. These challenges often lead to early defaults or delinquencies. Suddenly the dream of homeownership is not as fulfilling as once thought.

This is where Home Downpayment Gift Foundation and its Rainy Day Program come in to play. In short, the Rainy Day Program is a safety net for homeowners, lenders and builders who utilize the HDGF Gift Program. If the homeowner experiences an unexpected financial emergency, the Rainy Day Program may provide gift funds or short term low interest loans, to be used for the express purpose of making a mortgage payment.

The program provides the following benefits for all participating partners of the HDGF Charitable Gift Program:

During the first 12 months of homeownership, HDGF will make available an emergency pool of funds to assist homebuyers in keeping current on their mortgage payments.
Should the homeowner experience an unexpected emergency, the Rainy Day Program may provide gift funds to be used for the express purpose of making a mortgage payment.

Examples of items that will be covered are unexpected medical expenses, unusually high car repair bills, catastrophic events, or other major financial events.
We have a fast, easy process that will turn around a request in 48 hours or less!

Unlike an insurance company, we have set aside these funds for unexpected emergencies. Our goal is to help people, not make a profit!

We are the only nationwide down payment assistance program to provide this type of protection for our lenders, builders and most importantly, our gift recipients.

Through our post home-purchase counseling we hope to be able to detect at an early stage, potential financial problems.

These funds do not have to be repaid!

Early Delinquency Counseling:
If the homeowner is behind on their mortgage and special arrangements need to be made, the Rainy Day Foundation will provide early delinquency counseling and provide financial information back to the lender for appropriate workout options.

This program provides a complementary strategy to typical collection techniques. This is a positive approach that we use to provide assistance to well-intended homeowners who have nonetheless demonstrated difficulty in making the monthly mortgage payments. Our counseling program meets the EDC counseling required by Fannie Mae. A counselor will determine the reason the existing delinquency and work with the individual borrowers, analyzing their overall financial situation and the probability of continued financial difficulty. The goal of this program is to provide borrowers with the opportunity to review their entire financial situation, develop a successful budget, create capacity for regaining financial control and secure financial assistance.

Early delinquency counseling is most effective when used in conjunction with the normal collections strategies; it is not intended as a replacement to the lender’s normal collection activities.