First Time Home Buyers Grant Application
How do I apply for a first time home buyers grant?
First time home buyer grants are issued by federal, state and local housing agencies to help borrowers purchase a home easily. The programs are designed to reduce the hurdles of acquiring a home by paying the down payment. If you would like to apply for a first-time home buyer grant you;
Find a buyer program that Is applicable in your area. The HUD website is a great resource for finding grants. You can also ask your local housing office for programs available in your area.
Check that you fulfill the requirements. All programs have their intended beneficiaries and only they may apply. In general, if you qualify for a home loan, you qualify for a grant The only other criteria would be the location of the home and income limits placed on the grant
Look for an approved lender. Each grant has its own approved lender, so you have to do your homework and find the approved lenders and compare each of their offerings. You may get a list of approved lenders from your local housing agency. The lender will then assist you with your grant application.
Fill out the application forms. Your credit score, credit report and income information may be requested as part of the application. The required information may vary according to the grant program
First time home buyer grants may come with strict ownership and occupancy requirements. They are meant to benefit homeowners who intend to live in the property and not for owners who intend to use the property to rent out or commercial purposes.