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Government Grants for first time home buyers?
Someone was telling me about government grants and loans for first-time home buyers. If anyone has received one of these grants or loans what are the conditions? The government doesn't just give money away, do you have to live there a certain amount of time, take classes, etc.
2 Answers
- LandlordLv 71 decade agoFavorite Answer
No grants. You qualify for a 7500 tax credit if you buy by June.
- loanmasteroneLv 71 decade ago
There are plenty of government grants available for first time home buyers. I would not say they are hidden, but they are not all on the surface where you can immediately see them.
You have to do more than scratch the surface, you have to dig deep to find them.
There might be some income requirements that must be met. With some the longer you stay in the house the more of the loan is forgiven.
You might start with your local city and county Housing Departments. Ask for any type programs they might have. You might also look at any FHA and other government programs.FHA has the 103% and 105% loans.
Whom ever you talk to ask for additional telephone numbers of other agencies that might be able to assist you. Ask a question even if you think it will make you look bad. It is better to ask than to be one question away from someone you are talking to that know the place you can achieve what you are attempting to do.
I hope this has been of some use to you, good luck.
"FIGHT ON"
