We see the programs out there for first time homebuyers.  While they are good, there is so much more out there.  I have worked with a realtor now for 10 years.  His theory is that if there is something out there for free then we should be taking advantage of it.  Grants are one of those things we don't take advantage of often enough.  Let me tell you about one program that works for everyone:

THE GRANT

You go into the website and tell them how much you need for closing costs.  Now you want to make sure it does not exceed 6% of the purchase price.  They will tell you how much it may cost to buy that grant.  My realtor asks for the seller to pay for the grant.  It is often times around $400-500.  Cheaper than giving up seller assist.  Once agreed upon there is a certificate ordered and brought to the table. There is no stipulation for how long you must keep the home.   

How was that?  Simple enough and buyers usually don't need much money if any at all.  If they qualify for 100% financing then there is little out of pocket.  This is for EVERYONE! So whether you are buying your first home or fifth home you qualify.  Even if you pay out of pocket yourself for this grant it is still worth it. I am sure there are many other grants out there.  We just have to be looking out for our clients.

 
Posted by Meleny Ramos on 01/17/2007 02:14 PM   Comments (4)  
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4 Comments on Grants aren't just for 1st Time Homebuyers

JAN
17
2007
Meleny - Where's the free part if a person has to 'buy the grant'.  Call me an idiot. (heck, I call myself one).... can you link this website?  I truly do not understand how grants are bought.
3:26pm • #1
6 Featured Posts

So the seller is buying the grant for the buyer?  Is it a lein on the property (Forgiven?)?

I suppose $500 is better then 6K (assuming that it's a 100k loan w/ 6% seller assist)  
6:12pm • #2
JAN
22
2007
494,083 Points 75 Featured Posts Outside Blog Called Shot Master

A loan costs money, a grant is free money.  The only catch I see is do I qualify for the latter....and do I want to qualify.  If you have no money and are buying a home....regardless of your credit or what have you, do remember that ownership means if something goes on...you own that problem.  If the roof leaks, walls crack, boiler goes down, etc...etc...etc...it's all about being able to afford the committment.  Kind of like marriage...without the sex...never mind, it's just like marriage so I hear. 

And Rob, you aren't an idiot to my immediate knowledge...though I'm not buying you and Ann drinks just yet.  Proximity doesn't entail a free cocktail ride on my proverbial train.

Let's do some biz!
7:59pm • #3
JAN
23
2007

My understanding is that 1st Choice Equity is slowly checking us out.  I believe all is going well with Ann's order.

We truly want to be your "Title company of choice" based on performance.  If there is ANYTHING you or someone else needs, or wants from us regarding how we 'do business', costs, philosphies, etc... please do not hesitate to ask.

I believe our two companies will become excellent 'partners' in making sure all gaps are filled, holes are plugged and preventive measures are in place to ensure the consumer is not just satisfied, but delighted. Companies like ours will excel based on being better than anyone else. The best.

Note our NYC home buying seminar is this Friday.  Should be interesting. We'll be using this as a baseline for improving future seminars in the other boroughs. (What went right, what went wrong).

Ann, Meleny and I have had just a little bit of conversation on the possibility of our two companies running at least one seminar in this area .  I'd like to discuss that further next week or the following.  We think this is a great time to have informative classes for homebuyers as income tax returns start to come in beginning ...February timeframe.....  We have Realtor contacts to join in (and defray advertising costs) but of course we can discuss the 'best' avenue for that  (in other words, which realtors - should you have some strong candidates). 

I may pop in today. 

Rob

(and I certainly agree, let's do some biz!)

 

 
7:32am • #4


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Meleny Ramos

Pottstown, PA

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Working Mortgages

Address: Bechtelsville, Pa, 19505

Office Phone: (484) 256-1180

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