Did You Know?

FHA does not make loans. Rather, it insures loans made by private lenders. The first step in obtaining an FHA loan is to contact several lenders and/or mortgage brokers and ask them if they originate FHA loans.

As each lender sets their own rates and terms, comparison shopping is important in this market.

Frequently Asked Questions

If you do not find your question answered here, please contact us.

Q - Is the Federal American Grant Program similar to the now discontinued non-profit down payment assistance programs?

A - Yes, although the Federal American Grant Program is not a non-profit grant program and is instead a program administered by a government entity, the Confederate Tribes of the Goshute. 

Q - Is the program available to all Americans or just to members of the Goshute Tribe?

A - Yes. The Federal American Grant Program is available to all Americans.

Q - What are the income requirements?

A - The Federal American Program does not directly impose income requirements.  The only income requirements are defined by the loan program chosen by the homebuyer.

Q - What is the processing fee?

A - The one-time processing fee is $399 and up, depending on grant size.

Q - Can this program be used with new homes?

A - Yes. The Federal American Grant Program can be used as described above towards the purchase of new homes and resale homes.

Q - Where does the down payment grant come from?

A - The grant funds are granted to the buyer by the Federal American Grant Program program administrator.  The program is administered by The Fair Housing Administration of the Confederate Tribes of the Goshute. 

Q - Is there a limit on the amount of funds gifted?

A - Grant fund limits are imposed by the loan programs, not Federal American.

Important Facts:

FHA's mortgage insurance programs help low- and moderate-income families become homeowners by lowering some of the costs of their mortgage loans.

FHA mortgage insurance also encourages lenders to make loans to otherwise credit-worthy borrowers and projects that might not be able to meet conventional underwriting requirements, protecting the lender against loan default on mortgages for properties that meet certain minimum requirements -- including manufactured homes, single and multifamily properties, and some health-related facilities.

The basic FHA mortgage insurance program is Mortgage Insurance for One- to Four-Family Homes (Section 203(b)).