If you or your spouse are buying your first home, you may qualify for free government grant money to help purchase real estate. This is money that can be used to help you make a down payment on your property and help with pay for your closing costs. There are even first time home buyer grants and real estate grants that will help you pay to repair or improve your new home.
What makes grants for first time home buyers different than your traditional loans is that this is money that never has to be repaid. Because these are not loans, the government is not concerned with your credit score or credit history, they don’t need a down payment, and you don’t need collateral to qualify to receive some of this free grant money. As long as you are at least 18 years old and an American citizen, you can apply to receive some of this government money, as millions of Americans are every month.
The government provides billions of dollars in government grants every year, but the money is only budgeted so that a limited number of people are able to take advantage of these programs. Fortunately, there are a number of government grant programs that are offered at federal, state and your local government agencies. In many cases the real estate grants offered at the local level are not well advertised, which means very few people apply for these programs. The government is mandated to give this money away to the most qualified applicants, which means there is often great opportunity to receive free money where nobody else is asking for it.
By: Melissa Sabella