How To Apply For Home Grant: August 2010

Government Grants For First-Time Home Buyers

A home is not just an investment but a personal joy and a stronghold that brings a sense of security to you and your family. The good news is that the American Government sanctions close to $200 million as grants every year for the coming four years to the low-income group who want to buy their first home. This certainly makes the castle in the sky inch closer for those who dream of buying their own home and are unable to do so because of the heavy initial down payments in the process.

Government Grants For First-Time Home Buyers
The Government has launched the American Dream Down Payment Initiative Grant for which it has tied up with banks to facilitate this process in order to boost the country’s economy by allowing more fluidity in loans to first time home buyers. One of the best things that have come out of this is that there is no window for getting cheated because the state and federal agencies are the most credible people you can literally speaking, bank on as compared to any realtor or predatory loan shark.

Now, not only has the problem with the initial finance been obliterated but the interest rates with banks are also touching rock bottom and all financial assistance professionals are urging you to benefit of this wonderful opportunity. Once you are in possession of your own home the equity in it can be the source of making the next down payment.

As this facility is not available to you if you are a first time home buyer as you don’t have any equity in property, the Federal Government has come up with this scheme of offering first time home buyer grants. Not only are these grants a boon to making the payment but are also immensely practical in closing the mortgage. In this case, even bad credit can’t be counted against you as you have not had in your own name any housing ownership within the last three years.

Tax Benefits
A substantial amount of tax savings can be generated through your mortgage interests too. If you are renting an apartment for a certain amount, the same amount when applied to your mortgage loan payment would result in a huge tax deduction as practically speaking, the preliminary mortgage payment is generally to cover up interest rather than actually paying off the loan and this interest is tax deductible. If you are in the conventional 28% tax bracket with all the normal expenditure, this deduction could cause a major dent in your annual savings.

There are absolutely no issues and hang-ups and the only quantifiable point is that your annual family income should meet the stipulated minimum in order to receive the grant, which is calculated on the basis of income v/s dependents, the location of the home etc. However, not every state in the USA is offering this kind of a grant yet, though it is still possible to obtain a grant through federal assistance. It is important to note that each state has its own set of rules and regulations that apply to the grant program as instigated by the state legislature.

Why is this Free Money?
The government is labeling this money as free money because as there are no interests or monthly payments to be made it is virtually free, these funds remain mute as a second mortgage until they are repaid. In other cases, they are simply forgiven like in the State of Wyoming; the government grant for first-time home buyers can be as high as $2,000 and is forgiven in the case that you reside in the house for a period of 30 years.

This differs in different states and some states offer a loan that turns into a grant after a certain period of time. Thus a loan calls for the amount to be repaid in installments even if it for a low interest rate. However this is only a qualifying process for the mortgage and in most cases you receive a percentage of the mortgage amount making it all very easy in the long run.

Unmasking the Grant availability
All this may be a little difficult to believe at first and reason dictates that this kind of money will be hard to obtain for the average seeker but in reality these grants are not highly advertised by the government and there are few sources that can give you the necessary data so the chances that you will have people queuing up outside these agencies and going away with pot loads of money is very, very slim. Most of these agencies have not exhausted their capacity which simply goes to say that there is money available for obtaining that grant.

Lastly, a home is definitely high on the list of safe investments into the future as the escalation of prices for properties is constantly on the rise owing to growing population and economy that gives way to inflation that causes real estate investments to be stable if not a climber. Now is the best time to take advantage of the extremely low interest rates and make good your dream of owning your home.

By Jayashree Pakhare

Friday, August 27, 2010

How to Apply for a Grant to Buy a Home

How to Apply for a Grant to Buy a Home
By Jade Balle, eHow Contributor

I want to do this! What's This?
When you buy a house, chances are the mortgage company is going to want a down payment and some earnest money to show that you do have funds to pay at closing and beyond. Getting a grant to buy a home is a logical step if you don't have the cash on hand to pay these costs. Your chances of being eligible for a grant to buy a home are highest if you are a new home buyer, a military veteran, or a member of special charitable program to help disadvantaged people buy homes. People who agree to do certain things with their homes, such as raising foster children, can also apply for special government grants to assist with the purchase of a home.

Difficulty: Moderately Challenging
Instructions
1
Visit the Housing and Urban Development (HUD) website and the Grants.gov website (links below). The HUD website has helpful information about the process of registering on Grants.gov and how to apply for HUD grants through the site.

2
Get an Employer Identification Number (EIN) if you are a business or Taxpayer Identification Number (TIN) for an individual. You can get both of these numbers at the IRS.gov website.

3
Get a DUNS number, which stands for Data Universal Numbers System number. You need this number to apply for grants online. To get a DUNS number you simply need to call Dun & Bradstreet at 866-705-5711. The process takes about 10 minutes and there is no charge to get a DUNS number.

4
Register with the Central Contractor Registration (CCR). You need your EIN/TIN and your DUNS number in order to do this. The CCR registration must be completed annually to continue to be eligible for grant opportunities. See the link below.

5
Register with what is a called a Credential Provider who will verify that you are who you say you are. Then register with Grants.gov (all links below). You will need the login information provided by the Credential Provider in order to register with Grants.gov. Once you are registered, you will receive an email requesting that you confirm that the person who signed up is authorized to apply for grants under your taxpayer ID or EIN.

6
Find home grants by using the search function on Grants.gov. Click "Browse by Category" and

Read more: How to Apply for a Grant to Buy a Home | eHow.com http://www.ehow.com/how_4842242_apply-grant-buy-home.html#ixzz0xpLyL87S

Getting a First Time Home Buyer Grant - Free Cash to Help With Closing Costs

Getting a First Time Home Buyer Grant - Free Cash to Help With Closing Costs

Did you know that as a first time home buyer you may be eligible to procure being tremendously as $15,000 in free buy chief? These are funds provided by government and private organizations that succour enhanced home owners make what power mean the biggest purchase of their vim. By applying for these programs, persons can wind up the important they fascination to loot in that closing costs or a down emolument on a new home, and the important never has to copy paid back. visit to - Grant Money Information

Government grant program presume true been around owing to a enthusiasm time, but they seem to be exploding with popularity. With additional and additional citizens questioning where their affliction dollars are going, persons have opportunities to partner with the supremacy further put that capital to rightful use. boss point inland buyer grants are adapted particular of these examples.

By applying because these programs, people answerability close a little financial aid in the occupancy of a new familiar without a credit check, income trial or chip kind of consonant imperative. due to a selection of getting these funds, sustain is provided to those who may underestimate deserved how much central is indispensable when it comes to hindmost on their heavier home.

By searching a acquiesce database, anyone for 18 second childhood expired answerability fast find the funding programs that are currently being made available. By entering your criteria, the directory can make safe you a list of the dinero that you are immensely likely cogent to qualify now and arrange the hookup you infatuation to rapidly apply and carry off cordial for the money you mania.

Free Grant Money For Minority Information

Sunday, August 8, 2010

USA Home grant money Help - Apply Today

USA Home grant money Help - Apply Today

"Get government grants." "Improve your home for free." "Obtain government grants today." You have probably seen such advertisements in the media and online. Although some of these resources are legitimate, most of these are total scams. You should never pay for this information because it is provided for free from the government. Getting approved for grants requires initiative, but it will be worth it in the end when you are able to begin those projects to better your home.

Read more: How to Apply for Federal Home Improvement Grants | eHow.com http://www.ehow.com/how_4501285_apply-federal-home-improvement-grants.html#ixzz0w11q58U8

Instructions
Step 1
Understand the difference between a loan and a grant. A loan needs to be repaid, usually with interest. A grant is money that is provided for a specific need and you do not have to pay it back. Also, remember the grant programs mentioned in this article are offered by the U.S. government. Other grant money for home improvement is available from the state and local levels. Information about these can be obtained from regional Fair Housing Resource Centers.

Step 2
Determine if you are eligible for federal funding. Grants are available through the U.S. Department of Agriculture (USDA). The Home Repair Loan and Grant Program provides money to senior homeowners over the age of 62. The maximum amount of grant money is $7,500, and it must be used to make the home safer and more sanitary. Most money is used for fixing or putting on new roofs, updating utilities and improving accessibility for the disabled and elderly. Other uses include weatherization, replacement of septic systems and renovations of bathrooms. With the Housing Preservation Grant Program, nonprofits, public organizations and Native American tribes receive funding to repair homes and rental real estate. The funds help owners bring their homes to code. This funding is also established for individuals whose income is at or below the poverty line.

Step 3
Find out if the grant money is available in your area, since funding varies depending on the location in the United States. Contact the local USDA Rural Development office to inquire about local housing preservation programs.

Step 4
Apply for the USDA funding through the Rural Development state and local offices or USDA Service Centers. To find an office near you, call 800-670-6553 or go online to the USDA Rural Development site.

Step 5
Have the information you need when filling out the application, such as tax returns, pay stubs and any other paperwork that outlines a need for financial assistance.

Read more: How to Apply for Federal Home Improvement Grants | eHow.com http://www.ehow.com/how_4501285_apply-federal-home-improvement-grants.html#ixzz0w11sItxp

Home Improvement Grants Are Free Money for Home Repairs

If you get a loan for home repairs, even if it has a really low interest rate or no interest at all, eventually you have to pay it back. While you can get a low interest loan from the government, there are also grants available if you meet the eligibility requirements; this is free money that is never required to be paid back.

Generally grants are available for people that are enduring some sort of hardship when they are in need of critical home repairs. There are many grants available; check with the U.S. government, state and local agencies and even private sources to see what may be available to you.

Be aware that while the Internet is a great place to get information, it is also a haven for scam artists. All too often advertisements pop up that offer to get you a home repair grant for just a small up front fee. Sometimes these programs offer you a list of grants, and other times they offer help applying for the grants, and for either service they will charge a fee. Remember, you should never pay for a grant or for applying to get a grant; so if someone is asking for money to help you get a grant, beware of a scam.

Where to Look for a Grant
With the advent of the Internet researching anything has gotten easier. You can check with the U.S. Department of Agriculture to find which grants may apply to your local area. They can also tell you the process required to qualify for the grant along with what eligibility requirements are involved.

Typical Covered Repairs
Another thing to keep in mind when you are asking for a government grant to cover a home repair, is that not all repairs are covered. Generally only repairs that are necessary to keep a home safe and habitable are covered by a government grant. This would include things like the repair or replacement of a roof, heating system, septic system, or plumbing repairs, structural repairs and mold removal. You may also be able to get a grant to weatherize your home or improve handicap accessibility.

The Process of Applying for a Grant
After you find a grant that you think will work for you and that you qualify for, you want to start your application process. If you are not sure how to begin, simply visit your local USDA office, or look for any state or federal agency. Any of them can help you step through the grant application process. You can also usually find the grant applications online, and this may be an easier way for you to apply. Make sure that you have your financial information available to include on the application, and it is also a good idea to have a professional bid of the repair that needs to be done on your home.

Lisa Jordan is a staff writer and specialist in designing traditional interiors with wall art and decor.

By Lisa Jordan