Mortgage lenders now require virtually everyone acquiring a mortgage loan to fund a down payment, even if it's as low as 3% (FHA loans). On a purchase of $250,000, that 3% translates to $7,500; closing costs can be another 3%-6%. Coming up with this considerable sum of money is especially difficult for first time homebuyers. However, free money may be available for these buyers in the form of federal & state government grants. For additional information on federal grants, visit www.grants.gov.
For state of Florida first time homebuyer grants, visit www.first-time-home-buyer-s.com/first_time_home_buyer_grants.htm
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