Method and computer program product for processing and awarding a grant

摘要

A method for awarding a grant to a seller to help a buyer in which the grant is from a charitable contribution made by a donor to a pool of funds of a nonprofit organization. The donor donates an amount of money which is not capped to the nonprofit organization with an intention to help the buyer to buy a house. The donor qualifies for a tax break from IRS for the money donated to the nonprofit organization. The seller of the house receives directly a gift from the nonprofit organization equal to the amount donated by the donor minus a fee retained by the nonprofit organization. The gift received by the seller from the organization is equivalent to a down payment made in behalf of the buyer. The remaining money to the full price of the house is obtained by the buyer from a lender. Based on information sent by the nonprofit organization to a closing agent regarding disbursement of the down payment for the house to the seller from the organization, the buyer qualifies for the mortgage loan without paying the down payment for the house.