Click To View Links

Grants to Help Purchase on a Cash Sale

by Joe

Hello, My wife and I are 53. We are wanting to purchase our first home.

We have good credit, but no FICO score. (pay with cash most all we do).

The home we have found is $24000. So no loans available for our situation. It will take all that we have saved to pay for it.

It will also take a lot of renovation we plan to do mostly ourselves.

Are there any grants that help us with either renovation or closing costs?

Thanks for your help.

Josef K

Comments for Grants to Help Purchase on a Cash Sale

Click here to add your own comments

First Time Home Buyer - Renovation Loan
by: Jeffrey

Hello Joe,

First of all, thank you for paying my site a visit and sharing your story. Great question here.

Since you explain that the purchase price is a very small amount and you plan to use cash, this does create a unique situation.

It appears from what you're telling me, buying the house will use up all of your cash and leave you with very little money left over to make needed repairs.

My concern would be the condition of the house you want to buy. For $24,000 it's not likely to be in the very good shape.

You may want to consider the FHA 203k loan. My research shows with this loan, you can both purchase the house and finance up to $35,000 of repairs to it. Take a look at my webpage on this subject.

You also stated that you do not have a FICO score. With FHA home loans, that can be worked with also.

You really need a lender that can work with you as a first time home buyer. You'll find some links to recommended lenders on the page I referenced above.

You will have to ask lots of questions. Be sure to explain in detail your situation and what you want to accomplish. I think there is hope for you.

Now as far as help with closing costs, here's a link I found for you.

Missouri CAP program.

I wish you the best. Please help spread the word about my website!

Kind Regards,


Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Ask The Expert.

Recent Articles

  1. Buying a Home USDA vs FHA

    Oct 08, 19 08:33 AM

    Hello, I have a question regarding USDA vs. FHA home loans. I am in the process of getting a home in the next month but was told I wouldn't be approved

    Read More

  2. Buying a home - worst case scenario - what to do?

    Aug 05, 19 10:44 PM

    Hi Help please! I am a first time home buyer, buying a home with my fiance'. He is selling his home currently on the market for $125K with no contingencies.

    Read More

  3. Buying a Home Out of State Questions

    Apr 15, 19 12:36 PM

    When buying a home out of state, should we wait for employment contracts? Or can we use our current state's bank? Find the answers here.

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans

Follow Us On Twitter

follow me on twitter