How to Extend a First Home Buyer's Grant

First-time home buyer's grants can be re-acquired, but not extended.

A first-time home buyer's grant assists buyers with finding low-interest loans or reducing down payments. These programs are administered by the U.S. Department of Housing and Urban Development, or HUD. Because the federal government does not give buyers money to purchase a home, this assistance is not a traditional type of grant. Typically, these awards are only given once. These grants would not be extended but would be re-acquired.

Instructions

1. Review your grant documents. Understanding the restrictions on your grant is the first step to identifying if you are eligible and able to extend it. Read the documents carefully, taking note of any clauses that prevent you from seeking additional funds in the future.

2. Determine if any exceptions apply to you. Typically, first-time home buyer's grants are only awarded once. This means that extending these grants to obtain assistance with the purchase of a second home is usually prohibited. However, potential exceptions may include if the home was destroyed by a natural disaster or condemned after its purchase.

3. Contact the local HUD office to determine how you must apply for an extension of the grant. Technically, you would be re-applying for assistance with your purchase. Ask whether any acquired documentation is available online or if the office can mail the forms to you.

4. Submit the completed forms. Your request for assistance with your second home purchase may be denied, in which case you would need to purchase the home without HUD's involvement. If, however, you are able to obtain additional government assistance, the procedure for the home's purpose will likely be the same as or similar to the HUD's previous involvement.

References

• HUD buyer's assistance programs