REI has two different types of assistance. See below for details regarding each type of assistance:
Gift – the borrower receives a gift where no funds are required to be paid back and no liens are filed against the property.
Forgivable 2nd Mortgage – borrower receives assistance from REI and a forgivable 2nd mortgage is filed as a lien against your property. The 2nd mortgage is forgiven 1/84th a month and totally forgiven if the borrower lives in the home for 7 years. This must be repaid upon sell or refinance or payment in full of the property, or failure to occupy the property as personal residence for more than 60 days if within the 7 year period.
Your lender will help you determine which first mortgage loan product is best for you.