Steps to Purchasing an NHS New House with NHS Down Payment Assistance

(for information about how to purchase without NHS Down Payment Assistance, email Linda Smith)

2. Make an Appointment to Return the Application: Click here or call 608-647-4949 Ext. 306 to make an appointment with the NHS HomeOwnership Center Assistant. When you return your application, the NHS HomeOwnership Center Assistant will sit down with you and go over your information. She will run your credit report and go over that with you, as well. Then, she will answer any questions you have about purchasing a house. See Individualized Pre-Purchase Counseling

3. Contact the Reputable Lender of Your Choice and Get Pre-Approved for a 1st Mortgage Loan: Get Pre-Approved for a maximum loan amount from the reputable lender of your choice (don't have a lender? You can start on our links page).

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4. If NHS Determines You to be Eligible, Make an Appointment to See the House: Contact NHS to make an appointment or have your Real Estate Buyer's Agent (if you have one) set up a viewing.

5. See the House: Either someone from NHS or your buyer's agent will go with you when you look at the house. Feel free to ask questions.

6. Make an Offer to Purchase the House: If you do not have a buyer's agent, you should go to a real estate attorney to have your offer to purchase written. Either of these individuals will know how to write the offer to protect your interests as well as convey your wishes. If the offer is satisfactory to NHS, we will accept it. If it is not, we will either counter-offer or refuse the offer. If we counter-offer, you will need to take the counter-offer back to your agent or attorney for advice on how to proceed.

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7. If NHS Accepts Your Offer, Take a Copy of Your Offer to Purchase to Your Lender: Your lender will need a copy of your accepted offer to purchase. They will use this document to find out things they need to know for your loan, like purchase price, address of property, earnest money included in the deal, expected closing date, and other things.

8. Get Final Loan Approval from Your Lender and NHS: Up until now, you have had pre-qualifications or pre-approvals. Once you have an accepted offer to purchase, if nothing has changed from the time you were pre-approved and you still qualify, your loans will be approved and prepared for closing. Most of this work is done by your lender behind the scenes. However, please be prepared to answer questions if they arise.

9. Set the Closing Date and Time: This is the date and time you will close your loans and purchase the house. It will need to be a convenient time for you, NHS, your lender, your closing agent, and your realtor or attorney (if you wish to have an attorney present at closing).

10. Attend Closing, Sign Papers, Buy House: This is the meeting during which you will sign the loan documents for your first mortgage and you NHS Down Payment Assistance Loan 2nd mortgage. Once the loans are closed, money will exchange hands and the house (and mortgages attached to it) will be yours.

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Neighborhood Housing Services of Richland County

125 E. Seminary St., Richland Center, WI 53581 * 608-647-4949 * Fax 608-647-8792