As a Realtor, I get this question all the time....are there any grant programs available to help me purchase a home? Of course, if I am aware of one, which I usually am....I share this information with the buyer especially if they need assistance with down payment, closing costs or property tax reduction, after all as a Realtor I want to help my buyer realize her dream. The next question I usually get, is how come myMortgage Loan Officer did not tell me about it?
Good Question..how come? Most Loan Officers are looking for a quick close......and most grants require waiting for approval from whomever is providing the grant. There are many programs in most states that are receiving money from the federal government to help buyers who need help.
I was reminded of this today from one of fellow Realtors who had a listed property that my buyer was interested in, but the high property taxes were a concern that would make her payments higher than she could afford. After expressing this to the listing agent...she came back quick with the answer,t"here are lenders who provide MCC Tax credits".....who? What? What are you talking about Willis? To make it even better for my buyer, one of the lenders was the one she was pre-approved by. Back to my original question, why didn't her Loan Officer tell her about this, knowing that she was looking to buy in a low price range, knowing that high property taxes could disqualify a lot of homes for the buyer? Why?Why?Why?