Aaron Lishiguang Lee asked: The US government has set up housing grants for first time home buyers both at the Federal and at the state level. For first time home buyers, the New York government grants is one of best offers one can think of in these days of acute monetary crisis throughout the country. The New York government grants, which may be in thousands of dollars, provide real relief to citizens, wishing to buy their first homes. The New York government grants for first time home buyerscomes through the New York State Housing Finance Agency. These grants operate as a joint program between the government and the banks, to help citizens to make an increased initial down payment, thereby enabling them to buy their first homes.
There are of course, certain conditions to be fulfilled, before you could be eligible to get New York government grants, even if you are first time home buyers. The essential precondition is that you did not own a house for last three years or more in your name. Another stipulation is that your combined family income should be within a fixed ceiling. One of the factors, which is considered in your application for grant, is the number of dependent children you have and whether you and your spouse are responsible for parents living with you. To accommodate all your family members, you have to ask for a house of appropriate size. While examining your application, the grant authorities may consider that you need a house with 4-5 bedrooms, commensurate with the size of your family, including your parents and children. The application reviewer may decide that you need a matching higher income to qualify to get the grant.
To know more about New York State Grants for first time home buyers, from the New York State Housing Finance Agency, you should visit the agency’s website page, specifically detailing the loan/grant program. In this site, there is a wealth of information on where to find grant programs for first time home buyers in each state. The website would also provide you the grant application form, which you must fill in meticulously. It is extremely important that you fill in the grant application accurately and submit it before the deadline.
Carol
