Karl Miller,

HBAF deputy director, said the workshops offer prospective homebuyers

"the A to Zs of homebuying," including how to find a good Realtor,

how to select a good builder, mortgage products, and down payment information.

Instructors include Miller, HBAF Senior Housing Counselor Bonita Sales,

and other foundation representatives, as well as representatives from

HBAF's lending and real estate partners.

The foundation

is a nationwide nonprofit, non federally-funded organization created in

1992 to provide potential homebuyers with down payment assistance, as

well as pre and post purchase education. Free counseling is also available.

The down payment

assistance program helps homebuyers achieve the "American Dream of

home Ownership" through a flexible gift funds program.

Miller said

the program provides the client up to a 7.5 percent gift to assist with

the down payment on a new home. "It is truly a gift it cannot be

repaid under any circumstances," he pointed out. The gift money can

be used in several different loan programs, including FHA, VA, Freddie

Mac and Fannie May loan products, bank portfolios and non-conforming loan

products, and HBAF requires the purchaser to have at least one percent

of their own funds in the loan transaction.

The HBAF down

payment gift program is funded through annual donations from corporations,

as well as contributions from builders and home sellers who have taken

advantage of the program.

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