first time home buyer – owner loan

September 18, 2010

Free Government Grants For First Time Home Buyers and New Home Owners

Melissa Sabella asked:




Those who are in a position to buy right now can take advantage of first time home buyer grants that can help you close on the purchase of your new home. Not only are you able to buy property at rock bottom prices, but you can get paid for it too.

These government grant programs are typically available through your local government agencies, but may also be provided by your state government as well. All it takes is a quick application to see if you are eligible to receive these funds. As long as you are at least 18 years old and an American citizen, you can apply.

Even if you are not a first time home buyer, there are mortgage grants and other real estate grant that can be obtained. For example, there are numerous programs that will provide you with cash grants to improve or repair your home, upgrade your appliances to energy efficient equipment, and other government programs. Recently there was even a tax credit approved for those who purchase a new home. As long as you own the home for at least three years, you will never be asked to pay the money back.

When you search the grant database, the first thing you may notice is that there are many government and private foundation grants that you may qualify for. Just because you are applying for first time home buyer grants doesn’t mean you can’t obtain additional grant funds for other personal uses. That means in addition to getting free money that you never have to pay back to help you with your down payment or mortgage costs, you could qualify to receive additional grants for other projects.

Bernice

May 17, 2009

Almost Free Grants for First Time Home Buyers

Maria Mbura asked:


Your dream of owning a home may soon come true if you are a first time home buyer.

You can take advantage of the many government grants for first time home buyers that are available to assist low income and first time home buyers get their first home.

These are specific government grants which are made to first time home buyers to provide them with part of the financial assistance needed for the initial down payments and acquisition costs of a new home.

Depending on the value of your property you could find that your down payment and closing costs can be paid up with this free money.

These funds are almost free with no interest or monthly payments to be made.They remain in the background as a second mortgage only to be repaid on the selling of the house. The government has also been known to forgive the loan in many cases after you reside in the house for 30 years.

Every state has a customized policy for granting such money. One needs to do an elaborate research work before applying for such grants.

Some of these grants assist specific groups for example the Federal Department of Veterans Affairs offers help for military personnel and veterans.

So if you’re a first-time home buyer or your income is low, look online for financing that is undertaken through your local or state board of housing.

Don’t miss this opportunity to own a house by taking advantage of the almost free government grants for first time home buyers.



Terri

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