| When it comes to the real first time home buyer | | | | After a great deal of homework, I found a non-profit |
| grants, I hate to disappoint you, but they are greatly | | | | agency that offered grants for people buying their first |
| misunderstood. Why do I say that? Many people are | | | | home right in our own city. They had several hundred |
| trying sell books and CD's telling you how easy they | | | | thousands of dollars available. |
| are to get. It's not that easy. | | | | Wow, I thought this was great. So I proceeded to help |
| In this article I want to help you understand first time | | | | the couple apply for the grant money. They were |
| home buyer grants and how they really work. | | | | going to buy a home with an FHA home loan. I really |
| HOW FIRST TIME HOME BUYER GRANTS WORK | | | | recommend you do the same thing. Use the FHA |
| Each year the federal government will grant money | | | | mortgage since it works well with the grant programs. |
| for housing programs. Without many exceptions it's | | | | In fact, HUD is the government agency behind the |
| done through the Department of Housing and Urban | | | | grants and the FHA loan program. |
| Development or HUD. | | | | Sorry, I got to rambling on. To make a long story short, |
| Many people have been lead to believe these first | | | | the couple received a $5,000 grant. We used this for |
| time home buyer grants can be obtained on their own. | | | | the down payment. As long as they lived in the house |
| That's why there are so many websites, books and | | | | for a specific period (5 years I think it was) they would |
| CD's being sold. The masses are told that all you have | | | | not have to repay the money. |
| to do is apply and the FREE money is all yours and | | | | So it was a true grant. FREE government money. The |
| you do not have to pay it back. | | | | only strings attached was how long they lived in the |
| Well, there is some truth to that but it's not quite so | | | | home. |
| easy. Like everything else in this information age, it's all | | | | WHERE TO FIND FIRST TIME HOME BUYER |
| about the money. The money you put into the pockets | | | | GRANTS |
| of the people selling the information. | | | | Ok, this is where the work comes in. |
| Please keep reading to learn how you can get a first | | | | Each and every state has non-profit agencies who |
| time home buyer grant. | | | | get this grant money for first time home buyers. Finding |
| HOW TO FIND FIRST TIME HOME BUYER | | | | them is the trick. |
| GRANTS | | | | If you go to the HUD website, search for grants in |
| First of all, save your money. Don't bother buying those | | | | your state. Then drill down to find the counseling |
| books and tapes. First time home buyer grants are | | | | agencies in your city or nearby. Once you find one, |
| found right in your own neighborhoods. | | | | give them a call. |
| What happens each year is HUD will allow so many | | | | You will need to attend a class on home ownership. It |
| millions of dollars to go to non-profit agencies in your | | | | varies in length, could be one day long or two. They |
| community. | | | | want to help you understand the responsibilities of |
| So how do you find these agencies? I'm glad you ask, | | | | home ownership and help you stay in your home. |
| because I want to tell you. Before I do, allow me to tell | | | | These agencies are funded by the US government |
| you a little story. | | | | and are there to help you. They get the grant money |
| I used to be a loan officer for a large national bank. I | | | | each year and when it runs out, you have to wait until |
| specialized in first time home buyer loans. I really | | | | next year. |
| enjoyed helping people buy their first home and realize | | | | So do your homework and search at the source itself. |
| their dreams. | | | | Go to the HUD website and browse around. It's not |
| I had this couple one time who wanted to buy a home. | | | | that hard. Just be patient. |
| She asked me about first time home buyer grants. I | | | | The programs do change from year to year. So the |
| was not the sharpest knife in the drawer so to avoid | | | | agency will be better able to tell you what's available. |
| looking too stupid I offered to find a grant for them. | | | | All you need is the phone number to get started. |