For buyers · 7 of 8
After you close
When the payments start, who they go to, what you can and cannot do with the home, and how you eventually own it.
In ten seconds
- Your payments start the month after closing.
- You live there and take care of it like an owner.
- The title becomes yours when you refinance, take over the agency's loan, or pay it off. Or you can sell and keep your equity.
The title is yours when
The title becomes yours in one of three ways:
- 1You refinance into your own loan.
- 2You take over the agency's FHA loan.
- 3You pay it off.
If you ever sell the home instead, the equity is 100% yours. The price was fixed when the contract was signed, and there is no shared appreciation or shared equity in this program.
Why it's different
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Every application goes to an EEP-certified loan originator.