Government Grants for First Time Home Buyers
There are a number of grants, programs and loans available for the first time home buyer – including couples, women, low income, and even grants for first time home buyers with bad credit. With so many options nearly everyone can get some assistance when buying their first home.
Federal Grants for First Time Home Buyers. 1st time home buyers grants are available through the US Dept. of Housing and Urban Development.
On their website http://www.hud.gov/offices/adm/grants/fundsavail.cfm you will find a list of all the grant programs with the information about how to apply for them. The most commonly known are FHA and VA Home Loans.
State Government Grants. Most states have programs in place to assist buyers. Links to them can be found at http://first-time-home-buyer-s.com/first_time_home_buyer_grants.htm
Grants for minority women first time home buyers. Some grants are available to assist minority women realize their dream of owning their first home. Grants can come in the form of interest-free loans, reduced interest loans, and even cash assistance for down payment and/or closing costs.
Grants for first time home buyers with bad credit. There are various programs available for those with less than perfect credit. Generally poor credit will not stop you from home ownership. If you can qualify for a low interest loan through FHA, your chances of obtaining assistance from a grant agency is more likely.
Low Income Grants for first time home buyers. Grants of this nature are often tied to specific types of buyers, such as:
Dollar Home Sales Program http://www.federalgrantswire.com/dollar-home-sales.html works with HUD to address specific community needs.
Indian Housing Block Grants http://www.federalgrantswire.com/indian-housing-block-grants.html for Native American buyers.
Loan Guarantees for Native Hawaiian Housing http://www.federalgrantswire.com/loan-guarantees-for-native-hawaiian-housing.html in which buyer is a native Hawaiian.
Self-Help Homeownership Opportunity Program http://www.federalgrantswire.com/selfhelp-homeownership-opportunity-program.html in which buyer provides “sweat equity” in building the home.
There is a plethora of government grants for first time home buyers and it behooves anyone that is getting ready to purchase their first home to do some research.
You can even go further and look into grants from nongovernment sources such as churches, charities, private philanthropists, and maybe even your employer.
Whether you qualify for actual cash assistance or a lower interest rate, it will make it much easier to make your American dream of home ownership a reality. Don’t assume you can’t afford to own a home – take the time to find out what is available!