by Jeff Ragan
Alabama first time home buyer grants may be hard to find, browse this page to find best grants for home buying in Alabama. Also locate other home mortgage grants available below.
If you think you are ready, be sure to get a mortgage that works with the various grants for home buying out there.Chances are you will need an FHA loan so be sure to ask for one. .
FHA seems to be the home loan that works best with most of the grant programs you find.
So, you are considering the purchase of a home in Alabama. Purchasing a home in any state is an exciting prospect!
Sometimes this can be scary! However, don't let this stop you. Having your own home is one of the most fulfilling achievements in your life.
It is my plan to give you some useful information in this article about home mortgage grants in Alabama which will help you along the way.
Receiving a grant is like someone handing you a package gift wrapped in dollar bills! What an awesome gift.
To begin with, unfortunately, the State of Alabama does not offer an Alabama First Time Home Buyer Grant program for its residents.
But there are some cities in Alabama who do. For example, the city of Huntsville has a program called "Downpayment Assistance Program (DAP)" that offers a deferred loan program. This can only be used for the down payment and closing costs.
The nice thing is it is a zero percent loan that is completely forgiven after five years of staying in the home. In that way it becomes a grant!
Other cities may offer something similar, so do your homework!
However, the good news is that the federal government does offer federal housing grants for first time home buyers in Alabama. These grants are maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program. Their website contains useful information and applications.
The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.
Another website I would recommend that you view is the Government Grants. This website offers a list of all federal government grant programs.
It would be a good idea to take some time and browse through this site to see what home mortgage assistance it offers and the qualifications for application.Remember, you do need a lender who will work with any Alabama first time home buyer grants. Even if you qualify for a grant, you still have to qualify for a loan. .
Thank you for visiting our website concerning grants in Alabama. Below you'll find more information to help you with home mortgage grants.
This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.
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Happy House Hunting!!
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