Jacksonville Business Daily

What kind of grants are available for first time home buyers?

I heard from a friend there are grants available for first time home buyers. Is this true? And if so, what are they and where can I get some information on them? Thanks in advance.

Public Comments

1. It'd be nice if it was true, but no, the govt does not give grants for first time home buyers.
2. There is help for some first time homebuyers. Most are state by state or city funded, & some are given because of what your profession is. Talk to a Loan Officer in your area for details. All that I know of in my state have income limits. Some even give soft seconds to cover down payment & closing costs. Not sure why I was given a thumbs down. I do these Bond programs all the time. They are excellent programs & help people who would otherwise not be able to afford a home. They are not for people out for a free ride but for those willing to be responsible homeowners.
3. hey i work at wachovia, and i don't know about any grants, but i know about loans that you can get, like home equity line,that you can use to buy a house, and since the economy is down right now, this is a very good oppurtunity to get an equity line, with a very very low interest rate.
4. Many cities, counties and private non-profits make 1st time buyer grants or offer down payment assistance. Search the web for "down payment assistance" as a starting place. Or depending where you live I might be able to assist you in funding a 1st time buyer purchase. e-mail me.
5. FHA loans through the government are usually a good start for first time homebuyers. If you have great credit, you have alot of options. Shop around for rates, and make sure you compare the interest rate AND the APR. The bigger the difference in them means you will have more fees, points and closing costs. If you don't have good credit, you will have a bit of an uphill battle, since lenders are more cautious with who is approved these days. With the economy sucking so bad and foreclosures going on everywhere you look, it's been shown that most foreclosures are those borrowers who were credit-risks to begin with. Good luck with everything! And Lvr Boy... wtf are you talking about home equity lines for? They don't own a home yet, therefore there is no equity to have a line against. In order to have a home equity line, they must have a home that has equity.
6. Yes, most states offer first time home buyer programs. The programs can range from downpayment assistance to discounted home loan rates. Check out the site below to learn more. Good luck!