CHAPTER 9 Programs for Home Bu or Home Buyers
According to the Census Bureau, 65.6% of Americans own their homes. However, many people cannot afford to buy their homes, often because they can't afford the closing costs or don't meet the down payment requirements of conventional loans.
Fortunately, The U.S. Department of Housing and Urban Development (HUD) provides billions of dollars yearly to housing grants, turning the homeownership dream into reality. If you're buying a home for the first time, you can file for a buyer's grant. National, state, and local programs and grants are available to first-time home buyers. These programs and subsidies can help cover portions of acquisition costs, including the down payment, and allow buyers to get more loans to finance.
GRANTS FOR FIRST-TIME HOME BUYERS
Grants can be just as important as loans when buying your first house. First-time grants for home buyers can be a significant source of funding, and unlike a loan or a debt, a grant won't have to be repaid. These programs are strategically located in areas where the government aims to revitalize communities, providing a viable and less expensive option for the first-time buyer. This makes 'urban homesteading' a feasible choice and instills a profound sense of relief and security in home buyers and the 77
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