Home Buyers and America's HOPE Members
America's HOPE was established to assist families in qualifying for permanent re-financing by providing access to a credit improvement program, an opportunity to obtain the required down payment and closing costs necessary to select a Program Property and successfully acquire home ownership.
Apply now . . .
and you could be approved for your new home
in just a few days.
Show me the Membership Application.
The Home Buyer Details:
The key element of resolving America's housing challenge is helping families to qualify for permanent re-financing of a home. In 2010, it was reported that approximately 73% of families seeking home financing were declined. The three dominant criteria for failure were: 1) Unacceptable credit scores, 2) Insufficient trade lines in their credit histories, and 3) Inadequate source and/or seasoning of funds for down-payment and closing costs.
America's HOPE program is designed to overcome these challenges for families who are willing to learn and take the steps necessary to qualify for home ownership. Home buyers and families do this by becoming a Member of the America's HOPE, where they receive the education, guidance and support necessary in meeting the permanent re-financing requirements of home ownership.
Qualifying the Home Buyer: All paid applications are referred to America's HOPE Preferred Lenders, Wells Fargo Home Mortgage or WJ Bradley Mortgage Bankers loan originators and underwriters. Here the Member's application is evaluated for permanent loan qualifications. A credit report is pulled, and the loan underwriter makes a determination. At this time, applicants are enrolled as Members of the America's HOPE program, where they can receive the full benefits of the program.
America's HOPE Program: America's HOPE was established to assist families in qualifying for permanent re-financing by providing a credit improvement program, an opportunity to obtain the required down payment and closing costs necessary to select a Program Property and successfully acquire home ownership. (Show me the Membership Agreement).
As a Member of America's HOPE, they are enrolled with the US Consumer Credit Restoration Association, (USCCRA), or similar service, if required, where they receive the industry's most comprehensive bundle of benefits and services-focused on improving their credit and overall financial wellness. Members are educated in the credit system, learn how to take responsibility for their financial dealings, and get ready to re-join the credit economy with a clean financial slate (credit profile), prepared to build a successful life for themselves and their families. Member benefits include professional, financial, legal, tax, personal finance advice and other benefits.
Undergraduate Program: Those Members of America's HOPE that require more than six months satisfying the permanent re-finance loan underwriting requirements are enrolled as Undergraduates. They work directly with credit repair representatives on a consistent basis utilizing all program features to help in qualifying for the Graduate Program.
Graduate Program: Those America's HOPE Members that require less than six months to satisfy the permanent re-finance loan underwriting requirements are enrolled in the Graduate Program. These Members work directly with credit repair representatives on a consistent basis utilizing all program features to prepare for graduation, which is closing on the permanent re-financing.
Graduate Members will also work directly with their Equity Real Estate Program Listing Agent in selecting a Program Property in their community. The Program Listing Agent and First American Title Insurance Company Representative will assist the Graduate Member in signing the Property Purchase Agreement and 100% Seller Financed Closing documents. The Graduate Member takes occupancy of their new home while continuing their education and preparation program with credit repair representatives and the Permanent Re-Finance Loan Representatives.
100% Seller Financing: Providing 100% Seller Financing assists the America's HOPE Member in several ways. The purchase price of the property helps to re-establish the property values in the community. Timely monthly payments on the promissory note provide a new trade line on the Members credit report, which will help in raising their credit scores. The mortgage payments also help in providing an acceptable source and seasoning of funds for the Permanent Re-Financing requirements.
The documents executed by the Member at the 100% Seller Financed Closing are:
- Review of the America's HOPE Membership Agreement.
- Review of the Program Property Purchase Agreement with Purchase Price Addendum.
- Member Walk-thru Inspection Report.
- Promissory Note for 100% of Purchase Price Amount, less deposit, at 6.0% per annum with the 30 year Term, and 5 month balloon.
- The Trust Deed will be recorded by the Title Insurance Company.
- Evidence of Insurance.
- Home Warranty Program.
Permanent Re-Financing Closing: The Member and the Permanent Re-Finance Lender's Loan Originator and Underwriter will be notified when the America's HOPE Graduate Member has achieved the credit score and down payment/closing costs required by the lender. The Underwriter will review the Application and transfer the Member for closing. The Closing Coordinator will assist the Loan Originator and Title Insurance Company in closing the Permanent Re-financing and paying-off the Seller Financed Note and Trust Deed. With Permanent Re-Financing in place, the Member of America's HOPE graduates and becomes an Alumni Member of the Program.
Alumni Member Benefits: As an America's HOPE Alumni, Members are able to continue receiving Program Benefits, including Newsletters and discounts on home and garden materials, supplies and equipment through affiliated National Program Vendors and Suppliers.
Show me the Membership Application.
Show me the Membership Agreement
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