We keep track of grants from all over the country that help people find and purchase their dream home.
Rising rental prices and a shrinking middle class are making it more and more difficult for the middle class to thrive, so government programs like FHA loans and HUD are here to help reinforce and bolster the growth and continued stability of the American middle class. That stability is all about home ownership.
The most common type of home buyer grant is a down payment assistance grant. These are designed to help first time home buyers overcome the barrier that mortgage down payments pose for many American renters.
This is a forgivable, deferred, 5 to 30 year 0% interest, no payment "silent second" loan, up to $75,000. These are designed to be forgivable between 10 and 20 years. They're meant to assist buyers with not only Down Payments but also closing costs. Restrictions usually apply but it means you don’t have to spend years saving up for that big payment before you can even start looking for a house.
This is technically a type of second mortgage, except that you won’t have to pay it back if you meet the terms of your home-buyer agreement. This will demand that you keep the home as your primary residence for specific amount of time that’s determined by each program separately. Usually after 30 years, at the end of your first mortgage's term, this second one will also come due. You'll make no payments and there is no interest.
Most of these grants are awarded based on income, and require recipients to qualify as low or middle income earners in their country. Another important category to be aware of is "good neighbor" grants
Good neighbor programs are special grants for first time home buyers that are designed to help rehabilitate neighborhoods that are shrinking or falling into disrepair. They're specifically designed to improve the safety and strength of the community in an area by offering help to people in important "good neighbor" professions. These include teachers, members of the military, paramedics, and police officers. If you're employed in one of these types of jobs you might qualify!
We keep track of and help you find DPA listings and first time home buyer grants in your city or your county to get you the financial help you need to become a homeowner. You’ll have access to…
● State, Federal, and Private grants in your local area● Guidelines, Income Charts, and Applications where applicable● Grants that work for borrowers with different levels of income● Grants that work with FHA/Conventional/VA and USDA type loans.● and Census tract specific/Teacher next door programs.
Besides that, we want to make sure that you’re properly educated about all your options and how you can ensure that your experience will be a long-term success, so we’ll help you find HUD certified housing counselors and HUD certified home buyer workshops in your area.
Please reach out to us today, and let us help you make your home ownership dreams a reality!