does anybody know where to find first time home buyers grants?

Question

me and my fiancee need to buy a home, but we both have low credit to bad credit and can't afford much, we heard of some first time home buyer grant, but don't know anything about it, or how to get it, does anyone know??

Answer 1

Contact your local bank and ask them if they have any SHIP PROGRAMS or SHIP LOANS available. These are government loans that you do not have to pay back and they pay for your closing costs usually also. There are some restrictions and different states vary, but normally you have to live in the home for "X" amount of years before selling otherwise you would have to pay the SHIP loan back, and you usually have to fall into an income bracket of some kind, but these programs are usually available to people who qualify for them.

Banks also are required to do a certain amount of community loan programs to people with bad credit. So check into that as well.

Hope this helps,
SELL2K

Answer 2

Most states offer programs or grants for first time home buyers. The assistance can include grants for a downpayment and/or closing costs, or even a discounted loan interest rate. Some programs are also offered to those with less-than-perfect credit.

Check out the site below to see what programs your state offers.

Good luck!

Answer 3

Sorry. Most of the 'grants' are furnished via local municipalities that have a Community Development Department. Although interest rate is low, they may require you to live in the house for at least 5 years. However, your credit either must be good or you must be willing to go through a process to improve your credit.

They're interested in your credit because it paints a picture of your willingness to pay your bills on time.

Answer 4

See if you qualify for Habitat for Humanity.