for these funds. According to HUD, grants will not be given to anyone not qualifying for a mortgage. Therefore, grants can significantly lessen your financial burden but usually won't cover a substantial percentage of a home's total cost, often providing under 10% of the purchase price. Different states have different programs and conditions for home-buying grants. They have one thing in common: all 50 states have explicit grants for first-time home buyers. By researching and checking what grants are available in the community you plan to move to, you can empower yourself and feel more in control of your home-buying journey, knowing you have the information and resources to make the best decisions for your future. There are steps to follow when applying for a buyer grant. First, find a home buyer grant that fits you. Then, check the requirements of that grant program. Once you've identified a grant that suits your needs, the next step is to find an approved lender. This process involves researching and contacting lenders who participate in the grant program. Once you've found a lender, complete all the application forms correctly. The HUD website is a great resource for buying a home, whether it's your first or your tenth! (Https://hud.gov)
PENALTY-FREE IRA WITHDRAWALS FOR FIRST-TIMERS -TIMERS
First-time home buyers can withdraw $10,000 from their Individual Retirement Accounts (IRAs) during their lifetime without paying the 10% penalty for withdrawal before the age of 59½, assuming specific requirements are met. The most significant requirement is that the money be used to buy or build a primary residence (not a vacation home). If you have a traditional IRA, you must pay income tax on the money withdrawn. However, Roth IRA accounts aren't subject to
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