Louisiana first time home buyer grants may seem hard to find. Unravel the secrets of grants for home buying in Louisiana!
Tired of renting and want to own your own house? Awesome! That is truly an exciting prospect. Buying a house in any state is a fabulous endeavor.
Although exciting, it can also be overwhelming. But don't let that bog you down.
You want to know your credit score and determine if you need credit repair before proceeding.
Unfortunately, without a credit score of at least 580, you will not be able to qualify for those low down payment programs like the FHA 203b loan that works so well with the various grant programs out there. You want to be able to qualify for these programs and with a higher credit score, you'll qualify for a better interest rate as well.
If you think you are ready, be sure to get a mortgage that works with the various grants or programs for home buying out there.
The reason for this site is to help you get all the information you need to help you with this much sought after venture.
Finding home mortgage grants feels as wonderful as receiving a dollar house!
To begin with, the State of Louisiana does offer a Louisiana first time home buyer grant program for its residents. The state agency which maintains this grant program is the Louisiana Housing Corporation.
The program is called the HOME/MRB Program that gives assistance monies at closing to help with the down payment and closing costs. There are income restrictions and various other qualification for this grant so do your homework.
To check out their eligibility requirements, visit their website by clicking here.
However, the good news is that the federal government does offer grant assistance for first time home buyers in Louisiana. This program is 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 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 it offers and the qualifications for application.
It is important to note that there are several local first time home buyer grant programs available from specific private organizations in Louisiana.
It is a good idea to start your grant search early in the year. Why? Funding for these programs come in early and are limited. Thus funds can run out before the year ends. Also they take time from applying to actually receiving of funds. So give yourself plenty of time to complete this process.
Another suggestion is to start saving a little money each week. If for some reason you don't get approved for the grant, you have money saved to purchase a home anyway. How is that possible? Since it takes quite a bit of time for this process, you might be surprised what you have saved by the time you find out your status.
The savings may be just enough for the low down payment programs like FHA.
Remember, most of these program can only be offered through certain lenders. So you will need to find a lender who will work with any of these Louisiana first time home buyer grants.
Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.
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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