CHAPTER 9 First Time Home Buyer Programs & Potential Tax Benefits of Home ax Benefits of Home Ownership
According to the Census Bureau, 65.4% of Americans owned their homes in 2021. That still leaves a huge number of people who cannot or have not bought their own homes. This can be due to many reasons such as they can’t afford the closing costs, or they don’t meet the down payment, credit, or income requirements of mortgage loans. The U.S. Department of Housing and Urban Development (HUD) provides billions of dollars every year to housing grants, turning the homeownership dream into reality. If you’re buying a home for the first time, you may be able to file for a buyer’s grant. There are national, state, and local programs and grants available to first-time home buyers. These programs and subsidies can help cover portions of acquisition costs, including the down payment,
110
Powered by FlippingBook