How to get First Time Homebuyer Grants

How to apply for first time homebuyer grants / downpayment assistance programs.

Things You'll Need

• Regular Income / Be Employed Part-Time or Full-Time
• Average Credit Score

Instructions

1. Find website of your city's, county's or state's housing authority (in the same order). Get a list of participating lenders of Homebuyer Assistance Programs sponsored by your state.

   Follow the link below to find a list of housing authorities operating nationwide (listed state-wise):

   http://www.ncsha.org/section.cfm/4/39/187

2. Apply for a government backed / insured mortgage program with one of these lenders. In most cases, you will just need to contact the lender via telephone, and ask them about your state's sponsored housing programs, that you would like to apply for.

3. Complete a homebuyer education course by one of the Housing Counseling Agencies, listed on the website of your local housing authority. You may also get this list by contacting the housing authority via phone / email. After completion, you will be given an eligibility certificate that you will need to present to a lender, to get pre qualification on a mortgage program (usually state sponsored).

4. Meet income and purchase price limits. These limits are different for every state, and can be found easily on your state's housing authority's website. After you're pre-qualified by meeting the income limits and other requirements, you then consult a Realtor to identify a home of your choice, and hire a real-estate lawyer to formulate a sales deed.

5. Once you meet all of the above mentioned requirements, you are eligible to get "downpayment assistance" on your homebuyer mortgage. This means, that the downpayment or closing cost assistance will be provided by the government, which can be either a lump sum amount, a percentage of home's price or a zero interest 2nd morgage loan to cover downpayment and closing costs.

6. To increase your chances of qualification, you can always seek help of a professional Grant Specialist at http://www.mygrants.us, who can guide you step by step on how and where to apply for housing grants, and can also prepare an application package for you, so that you do not have to take any hassles on your part.

7. To keep up to date with thousands of government grant programs that are offered every day, you can always subscribe to My Grant's Blog, which is a free service, and provides valuable information on all the latest grants for homebuyers, students, business persons, women, veterans, senior citizens, teachers, contractors, minorities and much more. Access the blog at:

   http://www.mygrants.us/blog

Tips & Warnings

• Seek help of a professional grant specialist

• Beware of Homebuyer Scams

• Government never gives Full Grant to purchase a home

Resources

• Government Grants
• Free Government Grants Information
• Free Housing Grants