Rehabilitation Mortgage Insurance Program
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b) Purchasing a structure on another site, transferring it onto a new area on the mortgaged property and rehabilitating it

c) Refinancing the current indebtedness and rehabilitating it

d) Rehabilitating the structure.

The guidelines of the Rehabilitation Mortgage Insurance Program requires that the rehabilitation be at least $5,000 in order to participate in the program.

Homeowners who are interested in participating in this program can submit their applications at any HUD-approved lending institution.

Individuals and families will be considered eligible to apply for this program if they demonstrate the capability of repaying for the loan for a duration of up to 30 years.

The Department of Housing and Urban Development, the primary agency funding the Rehabilitation Mortgage Insurance Program, is the country's leading agency that is mainly responsible for increasing the rates of homeownership, supporting community development and more importantly, increasing the people's access to affordable housing opportunities that are free from bias and discrimination.

In the fiscal year 2007, the Department of Housing and Urban Development has issued 3,383 new loans under the Rehabilitation Mortgage Insurance Program.

Rehabilitation Mortgage Insurance Program
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Additional Resources

category - Home Buying Programs

Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.

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Construction Incentive Program for First Time Home Buyers in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.

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Downpayment Assistance Program for the First Time Home Buyers in North Carolina
The programs and activities of the North Carolina Housing Finance Agency are constantly geared towards the satisfaction of the best interest of its target population, which is why all their endeavors are carefully guided by their overall agency mission which is "to create affordable housing opportunities for North Carolinians whose needs are not met by the market."

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