First time home buyers have an opportunity like never before to get free grant money to buy their new home. The government is aggressively providing funding to those who can help stimulate the economy by purchasing real estate.
While there is money available to individuals who are willing to buy foreclosure property from the banks, there is also cash to help people buy homes in urban neighborhoods, for example. There are many home mortgage grants and they span a wide range of terms.
Some of the first time home buyer grants will give you down payment money, while others will help you cover your closing costs. In many instances your local government may even have a say in your mortgage rate and allow you to knock a couple points off your loan.
There is a surplus of homes on the market, and the government is acting swiftly to get people buying again. Homes that are in foreclosure are hurting banks, while new home builders are dying to put their employees back to work. It's just a matter of time before the market picks back up, but there may never be another opportunity like this to get free money from the government.
These funds may be available by the federal and local governments, and they can be applied for by an US citizen that is at least 18 years old. Unlike bank loans, your home mortgage grant request does not require a credit check, down payment or any kind of collateral. If you are buying a home, you simply need to ask for it.
By:Melissa Sabella
