Federal Tax Credit Home Purchase
June 5th, 2010
Question: Any info on receiving grants for first time home buyers?
I know this can greatly vary from person to person, but I’m hoping there are some of you out there who have had experience with getting federal funds or grants when purchasing their homes. What are some resources you would highly recommend? Are there ways of going about this that would increase my chances of getting them? Is this easy? How much were you able to receive? Does the First Time Home Buyers 8k tax credit effect my odds? Any advise would be helpful. I’ve already found some links with info, but am looking to hear personal experiences.
Answer: Hi There;
You have many questions here. I perceive the biggest one is how to get federal funds or grants. So I will focus on this.
Each and every state has different types of programs. In fact it breaks down to your local community as well.
Federal grant money for housing is issued each year to the different states. Then the state government divides these funds up between the different cities. Don’t worry, the information is all free and you do not have to buy a book.
When the funds run out, they are gone until the next year.
I’ve seen some very generous grants offered in the past. I personally helped a couple get $7,500 in pure federal grant money that they did not have to pay back as long as they lived in the house for 5 years.
Since I do not know what state you live in or the city, perhaps you may find the link listed below helpful. It is up to date as of Dec 30, 2009 and links you to the HUD pages within the site where you can simply click on your state and then see a list of all the agencies that offer grants.
I hope you find this helpful.
US pending home sales soar ahead of tax credit deadline
US pending home sales rose for the third month running in April as home buyers rushed to sign contracts before the expiration of a government tax credit, an industry survey showed Wednesday.
| | First-time buyer tax credit can be used upfront for purchase costs.(Briefing Book)(National Association of Home Builders of the United States)(Federal … article): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on July 1, 2009. The length of the article is 357 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: First-time buyer tax … |
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