HOW THE HOPE LOAN PROGRAM WORKS

First, you must see if you potentially qualify for the program. Click QUALIFY NOW to find out.

Second, if you appear to meet the requirements and therefore appear to qualify for the Hope Loan, you will receive an email notification. Follow the steps outlined in that email.

Third, your home must be appraised.

Fourth, a new loan must be written and agreed to.

Fifth, insurance fees must be paid both initially and annually thereafter to FHA.

Sixth, the new loan docs are signed and filed.

Seventh, you will not be able to have any new second mortgages or liens against the home following the FHA Hope Loan agreement, except under exceptional circumstances. You must share any gains in equity with FHA. See the formula contained on our site.