Grants for Home Buyer

[70707Bride]

We are looking to buy a house because when we move back home all the apartments are too expensive. We don't want to pay $550 a month which is what we are paying now. They aren't even as nice.

Does anyone know of any government grants that a first time homebuyer can get?

[lizardbnorton]

I'm sorry I can't help you I just wanted to comment on your 550 rent. That's a third of what we're looking for out here for a one bedroom. I wish we could find a decent place for that price. lol

[WebLady]

I found this site (http://first-time-home-buyer-s.com/first_time_home_buyer_grants.htm) that had some info regarding this and all sorts of first time home buying info.

[70707Bride]

Thanks, I'll check that out. We have seen a few nice houses but think its a little much, so we are trying to find some free money!

[70707Bride]

I'm sorry I can't help you I just wanted to comment on your 550 rent. That's a third of what we're looking for out here for a one bedroom. I wish we could find a decent place for that price. lol

Our apartment is income based. If we made a few thous. more I think we'd have to pay $750 or so. Back home every apartment that is cheaper than $550 is trash, those about the same price are still not as nice as what we are in. We thought that if we bought a house, the payments would at least be cheaper for now!

[Kfancii]

You might check into the USDA Rural Development loan plans depending on where you are going to be living. I was fortunate enough to qualify for a subsidized home loan 8 years ago and able to get into my house with no money down and a payment I could afford on a single woman's salary. I did have to buy in a "rural" community outside of the metro area, but that worked well for me since I would rather be in the country as much as possible. There are income guidelines you have to fall into - but it would be worth looking at. Check out their site at:

http://www.rurdev.usda.gov/rhs/common/program_info.htm#SFH

This is the type of loan I was able to get:

http://www.rurdev.usda.gov/rhs/sfh/brief_rhdirect.htm

Oh...and the subsidy is income based too. I am now making more money and no longer qualify for the subsidy I was getting, but thankfully the house is still affordable! This program works great for people who have kids too as the number of people in the household impacts the amount of subsidy you can receive.

[70707Bride]

Thanks, but after checking with the bank, we got denied for a loan of any amount because right now we are both working part-time. Arg...more reason to find a full-time job soon! So we still don't know where we are going to stay after April.

[Smashingpennies]

A friend of mine and her Husband are house sitting for a couple that is on Sabatacail( not sure if I spelled this right) The guy is a professer that her husbands brother knew or something like that. They get to live there for the 18 months of so that that guy and his wife are gone. Maybe something like this might work out for you until you can get your own place.