Tuesday, October 16, 2012

Government Grants For First Time Home Buyers

Government Grants For First Time Home Buyers

If you were to close your eyes and made a wish during these uncertain economic times, you might wish for some assurances in your life that you'll always be able to provide your family with the necessities food, clothing and shelter. You already provide them with love and nurturing, and a promise of a better life. You dream of your own home with a yard in which the children can play and grow up safely.

Today, these wishes are no longer pipe dreams. There are government grants for first time home buyers that are sure to make a difference in this country. The U.S. Department of Housing and Urban Development has first time home buyer grants available in every state in the country to put this country back on its feet again by helping families to own their own home!

As first time home buyers, HomeWithEquity.com recognize the sacrifices you make in an effort to save enough money to not only make a down payment on a home, but meet the total amount necessary to actually close on your desired home loan. For some, it just seems impossible!

Buying a home is often the most significant investment that a person may make in his lifetime. The United States Department of Housing and Urban Development, in addition to offering a variety of mortgage insurance programs, supports numerous programs sponsored by state and local governments and nonprofit organizations across the country. Many of these offerings provide assistance to first time home buyers.

A first time home buyer grant is a grant specifically for/targeted at those buying their first home perhaps a starter home. Like other grants, the first time buyer does not hold an obligation to repay the grant. In this respect, it differs from a loan and does not incur any debt or interest. Grants can be given out by foundations and governments. Grants to individuals can be either scholarships or donations.

First time home buyer grants are typically awarded based on a few criteria, primarily financial need and income qualifications.

Here is a list of all such possible grants:
First Time Home Buyers: The most basic of all housing grants is the first time home buyers grant which is given by the federal government's.

American Dream Down Payment Act: The United States government, enforcing this act to provide for housing grants for first time home buyers.

Down Payment Gift Assistance: A common method of purchasing a home is getting a mortgage loan for the property.

Veterans Housing Grants: he veterans can get mortgage assurance, assassinate and in several cases a mortgage insurance to purchase their homes.

Housing Choice Voucher Program: where in grant assistance is provided for lease, lease option and purchase of housing facility.

Are you thinking of buying your first home in Mississippi? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of Mississippi provides free money for its residents who are first time home buyers and need help with the down payment and closing costs. This money comes in the form of state grants. This is free money that shouldn't be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the first time home buyer grant programs that the State of Mississippi provides.

The agency in Mississippi that provides assistance to first time home buyers is The Mississippi Home Corporation. There is currently only one first time home buyer grant program available: Down Payment Assistance Program. You can receive up to 3% of the mortgage amount.

When you want to buy a home, you are faced with many decisions. As a first time home buyer the first is whether you are actually ready to buy. Finding the right first home is not always easy.

HomeWithEquity.com will help you in every step of the way!


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