F.A.Q. for Lenders

How do I sign up for Partners In Charity?

Lenders don’t need to sign up to use the Partners In Charity program.  To get started, simply download or print the required forms and the marketing materials from our website. This is all you need to get started.  The only people who need to sign up are the title and escrow companies.  This is simply done by going online and clicking on “title companies”.  From there they fill in their information and click submit.  It’s that simple.

Is Partners In Charity approved by HUD/FHA?

HUD/FHA does not approve any down payment assistance program.  They’ve made that very clear in their mortgagee letter 00-8.  However, Partners In Charity meets all of the requirements outlined in your FHA underwriting manual 4155.1.  In fact, we are the ONLY down payment assistance program who follows HUD’s guidelines for “best practices”.

How do investors and wholesalers view your program?

Partners In Charity is approved with most major wholesalers and investors.  This includes conforming, non-conforming, FHA and BCD.

What types of properties can we use a Partners In Charity Gift?

The Partners In Charity program is very flexible.  We only have one requirement, and that is owner occupancy.  The program can be used on single-family, condo, townhomes, duplexes, 2-4 units, modular homes, mobile homes and for low and moderate income loans. 

What is Partner’s In Charity’s Tax ID number?

Our Tax ID number is 36-437-8897.  You’ll need this number for the FHA CHUMS system. 

Will Partners In Charity work with other grant programs?

Absolutely!

How long does the funding process take?

Once you fax over the “Gift Funds Request Form”, or submit your gift request online, we will have the funds to you within 72 hours maximum.  However, we understand that in the lending industry, you don’t always have that much advance notice.  That’s why you’ll find our processing staff more than accommodating on those last minute request. 

Click here to view the Gift Funds Request Form in Word Format
Click here to view the Gift Funds Request Form in Adobe .PDF format.