Free Government Money For First Time Home Buyer

Posted by grantvine on June 27th, 2014

People capable of investing in real estate now should take advantage of first time home buyer grants that can help them close on the purchase of their new home. Not all American citizens are aware of the fact that the United States government may quite possibly shell out over five, ten, or twenty thousand dollars or more to help with your down payment and closing costs. Some of these programs are in the form of low interest lows, however, others are grants that are not loans, and you don't have to pay it back. It's free government money, plain and simple. These government grant programs are generally available through your local government agencies, but may also be offered by your state. Grants for first time home buyers are generally given to individuals that have never owned a home or to those who have not owned a house at any time during the last three years. If you want to buy a new home for the first time and need some financial support it may be as simple as a quick application to check your eligibility to receive the grant. The mandatory pre-requisites are that you have to be 18 years old or more and an American citizen. In case you are not a first time home buyer, there are still mortgage grants and other real estate grants that may be obtained if certain criteria are met.

For instance, there are innumerable programs that will present you with cash grants to improve or repair your home, upgrade your appliances to energy efficient equipments. Off late there was even a tax credit approved for the first time home buyer. You will never be asked to pay the money back as long as you fulfill the specified conditions, for example own the home for at least three years. When you search the grant database, you will realize that there are many private and government programs that offer grants that you may qualify for. Aid comes in various forms; grants for first time home buyers and repeat homebuyers, pre-purchase counseling, funds for down payment and/or closing costs, low interest and deferred loans, matched savings accounts, and some programs may even build a home for you to live in.

Just because you are applying for first time home buyer grants or home repair grants, doesn’t mean that you are not entitled to any other additional grant funds for other personal uses. In addition to getting free money to help you with your down payment or mortgage costs, you could qualify to receive additional grants for other projects as well. The most interesting fact is that you do not have to return the money as long as you follow the agreement made with the grant provider. If you happen to be a U.S. military veteran, you may have several additional resources available, for instance, while buying a new house you might get a complete waiver of the down payment. Additional home ownership aid is available to the law enforcement officers, teachers and firefighters or emergency technicians. In case of a disability, a person is assisted to make the new home handicap accessible.

If you are looking for an appropriate grant search engine so as to find the right grant for you, log onto www.grantvine.net