You are finally standing there looking at your dream home! Your imagination wanders and you see your family and friends gathering around for a barbeque or spending the holidays with laughter and joy. You envision your spouse and children playing in your beautiful yard or just sitting on the porch relaxing. You want to make this dream come true!
This is exactly what you want and wish for. There is just one problem, that home requires a lot of cash down; which you do not have or if you do you are nervous about putting that much down due to the way the economy is. There are ways to help you in making your dream come true. It is a Home Grant.
There are a nonprofit agencies that might be able to provide this to you. The nonprofit agencies provide home grants to individuals if you are securing a loan with private funds. They provide home grants in the form of down payment assistance. For instance, the HOME grant provided through Mission Branch can be available to you if you have secured private lender funding and need down payment assistance. For more information visit: Home Grants.
Your state may also offer programs for home grants to assist individuals in obtaining the money that they need to close on their new home and make your dream come true. Here are a couple of examples of what a State may offer:
- The state of California offers the School Facility Fee (SFF) Down Payment Assistance Program, which provides a conditional home grant to qualified home buyers in the amount of the partial or full school facilities fees that were paid by the builder. If the home buyer remains in the home for period of at least five years, the entire amount provided for the down payment is forgiven and is fully granted to the homebuyer. For more information visit:
- The state of Michigan grant funds offers $3,000 towards a down payment/$5000 if military personnel. This may be used with any first lien mortgage transaction and can go towards the down payment or closing costs involved with that transaction. The Michigan Homebuyers Assistance Grant Program does not require a lien on the property or repayment. This means that a qualified first time buyer will get the if the funds are still available. For more information visit: http://www.michigan.gov/mshda/.
Home grants are a perfect way to reduce the costs associated with the purchase of a new home. It will take some research to find out what programs are available in your state and local community to assist you in obtaining a home grant. There are grants out there that are a government funded loan and secure funds from a private lender or you can check into a nonprofit organization that offers home grants in the form of down payment assistance. Make this dream a reality of owning a home come true! Best wishes in securing a home grant!!