How to Get Grants for First Time Home Buyers

First time home buyer grants allow US citizens to get free money when they purchase their new home. This is cash that may be obtained for down payment money, to help with closing costs and even to reduce the new home owner's mortgage rate. Here's how to get grants for first time home buyers...

Instructions

1. First time home buyer grants are typically offered at the state government level. While not every state provides these grant programs for new homes, the majority do offer some financial assistance to those who qualify. First step is to check with your state government agencies.

2. Your local government may also provide grants for first time home buyers. These are often provided to help stimulate growth in a developing area or to boost the local economy. Check with your state and local government for available grants. You may be able to qualify and receive free grant money from both agencies.

3. Once you identify the grants that can be made available to you, submit a free grant application in order to get the process started. In many cases you can have your request approved and cash in hand in as little as 7 days.

4. Depending on the terms of your first time home buyer grant, you may be able to use the money towards the down payment on your new home or to assist with closing costs. Either way, a home mortgage grant for a few thousand dollars can go a long way. Especially when you consider how much you save over the course of a 30-year mortgage.

Resources

• First Time Home Buyer Grants
• Free Grant Money