‘Welcome Home’ Grant is Back
Article below is from 2010 – for a more updated approach to the 2012 Welcome Home Grant, click here to see updated details.
Great news for 2010 home buyers! The “Welcome Home Grant” that was offered in 2009 is being offered again this year at selected banks. Funds will be available starting MARCH 1st. Be sure to take advantage of this opportunity as soon as possible – funds are only available until they run out! Here is a rundown of the program and how you can qualify:
Welcome Home Grant
3.5% Down Payment Assistance from selected banks – not just for first time home buyers!
- Assistance not to exceed $5,000
- FHA or VA loan
- Borrower must have $500 of their own funds towards out of pocket
- Borrower cannot get cash back at closing—even earnest money—try and keep earnest money low
- Closings can take up to 4 weeks depending on demand—no rushes
- Borrower home buyer counseling required
- Funds cannot be reserved until there is a contract
- Income limits:
- Hamilton County limits are $55,360 for a 1-2 person
- Can be used with $8,000 tax credit
Team Annett Office