which can o ff er anything from below-market mortgage rates to down-payment assistance to special programs for police or fir e fig hters, borrowers must almost always attend a home buyer education course,” adds Keith Gumbinger from HSH.com. “Statewide assistance programs must be acquired through a participating lender.” You can visit the following site to fin d home buyer programs that might work for you in your home state: https://www.hsh.com/ fin ance/mortgage/home-buyer-programs.html. Start by clicking on your state on the map; then, you’ll see short descriptions of available programs and information such as state agency websites, participating lenders, eligibility requirements, courses, and contact information. Qua lifi cations Remember that each type of grant or loan or other home buyer program will have diff erent requirements and qua lifi cations in order to be eligible, so make sure you learn all you can about a) what assistance is available in your area; b) what the program(s) o ff er; c) what conditions must be met in order to qualify; and c) what you need to do, personally, to ensure your eligibility. Since home buyer grants are meant to be used spe cifi cally, and only, toward the purchase of a new home, there are qualifying rules for these funds. According to HUD, most grants are given to those who qualify for a mortgage. Further, all federal grant programs aimed at fir st-time home buyers will require the individual to attend a HUD-approved house counseling class, which include topics such as home economics, budgeting, saving, pre-qualifying for a mortgage, and homeownership responsibilities. By doing so, these individuals stand a greater chance of qualifying for a mortgage and increasing their chances of eligibility for a 154
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