I am looking into getting a grant for the down payment on a home and I was wondering if anyone has done this and how much they received, was it 20% of the purchase price? What factors are used to determine how much you will get? What can you tell me about this issue?
2007-01-04 06:57:17 · 3 answers · asked by ♥♫♥ Crystal ♥♫♥ 4 in Business & Finance ➔ Renting & Real Estate
Ok let me just add that in my state they will do grants for down payment and I dont have bad credit nor do I want a no down payment loan. I want a grant for the down payment so I can get into a slightly better home.
2007-01-04 07:17:03 · update #1
There is a non-profit organization that provides grant for downpayment for the purchase of a home. I suggest you contact Nehemiah Corp. http://www.getdownpayment.com .
They offer gift funds up to 6% of the final contract sales towards your downpayment and/or closing costs, without having to repay the amount. Check them out as they have helped many low income people buy their homes.
HUD, though, does not give out grant money. The Housing and Urban Development in their Grants Available page makes it clear that they do not provide grants to individuals -- hence no grants for a person to buy a home http://www.hud.gov/grants/index.cfm
"While HUD does not offer direct grants or loans to individuals, we do work through local governments and non-profit organizations to make financial assistance and counseling available."
2007-01-04 07:09:59 · answer #1 · answered by imisidro 7 · 0⤊ 0⤋
With the availability of no down-payment loans with mediocre credit I'm not sure there are any grant programs that would give 20% of the purchace price of a home.
2007-01-04 06:59:05 · answer #2 · answered by Emily B 4 · 0⤊ 1⤋
No one will give you a grant to buy your home of pay off your debts.
Anyone claiming he can get you such a grant is lying.
2007-01-04 06:59:59 · answer #3 · answered by jbowler 3 · 0⤊ 1⤋