You’ve heard the promises—are they for real? There are plenty of sites that want you to believe that for a “small” fee, they can help you find any kind of funding you might need — complete with a guarantee!
The simple truth is that the government would love to encourage home ownership. However, they are not just giving out grants to accomplish that goal. And unless you are over age 62, living in a very rural area and meet a number of other uncommon criteria, there are no direct government grants available to help you buy a home. You need to understand that to avoid getting scammed.
Don’t give up — there is hope! Home buying assistance includes counseling on a number of topics, special programs specific to your state, free help avoiding foreclosure, low interest loans and payment plans and more. Learn more below, beginning with new very low down payment opportunities!
Remember as you consider options that no one can guarantee you can get a government grant to purchase your home. Don’t let wishful thinking let you fall for empty promises. See Grants For Home Repair as an alternative to an alternative to purchasing a new home – maybe you can hang on for a bit longer before moving.
Freddie Mac and Fannie Mae (government-backed mortgage giants which provide mortgage money to lenders and also buy mortgages from them) have announced that effective March 23 of 2015 qualified buyers can get a home with a conforming, conventional fixed rate loan for 15, 20 or 30 year mortgages for just 3% down. That could be a huge break for potential buyers with decent credit (minimum score 620) who can document their income and employment. It’s called the Home Possible Advantage program, combine this program with financial assistance your state probably offers to mid-low income buyers and you’ll be a homeowner before you know it!