San Diego, CA (PRWEB) May 02, 2014
LoanLove.com is a borrower advice website that is dedicated to helping borrowers find home loans that they will love. With first class information, valuable resources and connections to top rate industry professionals, the website has quickly become a trusted destination for current news and expert loan advice. The most recent article published by LoanLove.com takes a look at first time home buyers grants and gives some insight into the programs that are available to those who are planning on purchasing a home for the first time this year.
This new article from Loan Love titled, “First Time Home Buyers Grants (Do They Exist?)” explains that while it can be exciting for first time home buyers to focus on properties that are for sale as soon as they decide to buy a house, it would be wiser for them to first get their financial house in order to ensure that when they do find the perfect place to call their own, they will be able to properly finance it. This means that new borrowers will need to consider all their options for financing before they being their serious house hunt. Loan Love says,
“Some typical preliminary financing questions first-time home buyers might consider are:
- How much am I able to put into a down payment?
- Do I qualify for a VA loan?
- Could I qualify for a USDA Rural Development financing?
- Should I look into an FHA loan?
- Can I expect financial assistance from a family member?
But, one of the other questions first-time home buyers often ask, is: Are there any first time home buyers grants available in my area?”
Loan Love explains that one of the first things new borrowers should know about home buyer grant programs is that the federal government does not offer grants to individuals – at least not directly. Rather, the federal government works together with non-profit organizations and local governments to provide assistance and related services to home buyers. The article says, “Grant programs are not meant to provide 100 percent financing, nor will they replace your need to quality for a home mortgage. Instead, grants and similar programs can provide some financial assistance to be used in conjunction with a mortgage loan.”
The Loan Love first time home buyers grants guide then goes on to review some of the most popular grant programs for home buyers. These programs are:
- HOME Investments Partnership Program
- Individual Development Accounts
- Mortgage Credit Certificate Tax Credit Program
- Housing Choice Voucher Program and
- Other Local Home Buyers Programs
For more information on the first time home buyers programs listed above, click here to read the full guide at LoanLove.com.