Does anyone know a website you can go to to find government grants for first time home buyers?

Question

Does anyone know a website you can go to to find government grants for first time home buyers? Some kind of website where you don't have to buy a book or buy something to get the information to get the grant?

Answer 1

There is no such thing as first time home buyers grant.

The above answers advises you to go to the HUD. 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

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"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."
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You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two FREE sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.

Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently.

Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

You may be able to get downpayment assistance from non profits such as Nehemiah Corp http://www.getdownpayment.com . Or check Habitat for Humanity

Answer 2

Try www.hud.gov, on the right side of the page there is a link for home buyers.

I don't think you are searching so much for a grant as a zero or low down payment loan.

There are FHA and Rural Development Grants, but these are little more than zero or low down payment loans.

If you live in a depressed rural area, you can get a pretty good deal. No down and a subsidized interest rate based on income. I've seen 1% loans from these people.

Stay away from mortgage brokers if possible, as they add a layer of expense. Sometimes they have info that can help, but the ultimately sell the loan to a bank someplace. If you can cut that layer out, your APR will be reduced.

Just go into a bank and ask to speak to the residential loan officer. Dress clean, suit and tie not necessary. They want to help as the Feds want then to issue these loans.

Good Luck

Answer 3

I did this 3 years ago, and I never found 1 web site that consolidated the info.

What I did is I searched under my city, county and state names, along with terms like "First time home buyer." I found some for my city and county.

Ultimately, I went to an independent mortgage broker, who found that the city and county ones had already blown through their funding for the year, but the state had some good programs for me, which I eventually used.

Use a mortgage broker. If they don't find you any of those programs, move on to another.

Answer 4

Hi,
Check the following sites for more info:

http://www.hud.gov
http://www.buying-your-first-home.com/first-time-home-buyer-grants.html
http://www.grants.gov

Good luck!