You’ve heard the promises—are they for real? There are plenty of sites that want you to believe that for a “small” fee, they can help you find any kind of funding you might need — complete with a guarantee!
The simple truth is that the government would love to encourage home ownership. However, they are not just giving out grants to accomplish that goal. And unless you are over age 62, living in a very rural area and meet a number of other uncommon criteria, there are no direct government grants available to help you buy a home. You need to understand that to avoid getting scammed.
Don’t give up — there is hope! You can find plenty of free assistance for purchasing a home. This assistance comes in various forms including counseling on a number of topics, special programs specific to your state, free help avoiding foreclosure, low interest loans and payment plans and more. Learn more about Free Assistance for Purchasing a Home.
Remember as you check out various resources that no one can honestly guarantee that they can help you get a government grant to purchase your home. Don’t let wishful thinking persuade to pay for empty promises. Discover Grants For Home Repair as an alternative to purchasing a new home - maybe you can hang on for a bit longer before moving.
Here are several type of free assistance available to you, depending on your situation:
Housing Counseling is readily available from agencies all over the country. Provided by the U. S. Government’s Department of Housing and Urban Development (HUD), these agencies offer a wide range of information and advice at little or no cost. To find the agency closest to you, you can search online or call HUD toll free at 1-800-569-4287. There are no fees for housing counseling for the homeless. If any fees do apply to you, they will be minimal and the counselor must explain them to you up front. If you are a single mom trying to keep your family together also see our article Grants for Single Moms.
Help Avoiding Foreclosure If you are in danger of losing your home and you don’t know where to turn, HUD also offers specialized counseling in Foreclosure Avoidance. Search the list online on HUD’s website to find a counselor. Foreclosure Avoidance counseling is free of charge to anyone who needs it. And see our December 2012 Newsletter for information about the Independent Foreclosure Review Program if you went through the foreclosure process in 2009 or 2010 and feel you were mistreated.
Special Loan Programs You can’t get a grant to buy a home but you may qualify for a better deal through the FHA (Federal Housing Authority). They are the largest insurer of home mortgages in the world, and their guarantee can help you obtain a lower interest rate as well as less required as a down payment. Any reputable lender can help you determine if you qualify for such a loan. You can also find more information on the FHA’s website. If you are trying to buy your first home, check out our article about grants for first-time home buyers.
Information Specific to Your State In addition to federal agencies like HUD and the FHA, individual states provide lots of resources as well. They can help you find free or low-cost counseling, provide information and training regarding lenders as well as about purchasing and maintaining a home, and sometimes also help you get financial assistance to purchase or make repairs to you home. You can find more information by searching your states website, or again go to the HUD website and click on the heading which reads “Information by State.”