Call (916) 444-2615 to get a list of participating lenders. Renters can’t apply for the National Homebuyers Fund grant directly – only your mortgage company can do it. It sponsors first-time and repeat home buyers with up to 5 percent of a home’s purchase price.įirst-time buyers can use the program with a conventional, FHA, VA, or USDA loan, and it forgives the loan five years after closing. The National Homebuyers Fund is a non-profit public benefit corporation. Grant monies can be used to make a down payment, pay for closing costs, lower your mortgage rate by using discount points, and cover other expenses, too.Ĭheck your eligibility for the $25,000 Grant. The Downpayment Toward Equity Act awards up to $25,000 so renters can buy their first home. In 2021, Congress introduced a bill titled The Downpayment Toward Equity Act, a home buyer grant for first-generation home buyers with extra grant money available to renters with socially or economically disadvantaged backgrounds. The $25,000 Downpayment Toward Equity Program – Expected in 2022 What Are Some First-Time Home Buyer Grants? 1. When homeownership rates rise, it’s a greater economic good. Build generational wealth within familiesĪccording to government research, $10,000 grants to first-time home buyers can increase homeownership by 34 percent, so it’s no surprise that Congress recently introduced eight bills promoting grants and tax credits for first-time home buyers, including the LIFT Act.

Increase prosperity within all communities.Homeownership is the keystone of the U.S. For first-time home buyers, that public good is homeownership. Grants don’t require repayment because the grant recipient performs a public good. Governments award grants on the local, state, and federal level and charitable and housing foundations nationwide. → Frequently Asked Questions from the ChatĪ first-time home buyer grant is a specific grant type designed to create new homeowners nationwide.→ What Are the Different Types of First-Time Home Buyer Programs?.

→ What is a First-Time Home Buyer Program?.

→ What Are Some First-Time Home Buyer Grants?.

→ What Is a First-Time Home Buyer Grant?.

First time home buyer