Homebuyer Assistance
Grant Program
The first time homebuyer purchasing a single
family/one-unit primary residence will have the ability to put the Homebuyer Assistance
Grant Program into action, even before the first of the year!
A grant program will
be available for the purchase of a single-family, owner occupied, primary
residence. But keep in mind that if the borrower has had ownership interest in
a primary residence in the last three years from the date of purchase, they are
not eligible for the program.
This program supports
non-military homebuyers with a grant of $3,000.00. It supports military
homebuyers with a grant of $5,000.00 (Military includes Veteran, Active Duty,
Reservists). Buyers can use the grant in conjunction with their own
first mortgage including the MSHDA’s existing Down Payment Assistance (DPA)
program using a waterfall review, i.e. a first lien with MSHDA, next apply the
grant, then if needed apply the MSHDA DPA.
These funds may be used with any loan type!!!
The Grant Purpose: The purchase of a
single family/ one-unit, owner occupied primary residence.
The Grant Terms/ Requirements:
There is no lien and no repayment is required!
Limit: There is no limit
just a minimum loan amount of $30,000!
Income Limits: None…this is one
thing where income is NOT an issue!
Expected Availability Date: December 3rd,
2012
(For loans closing December 10th or after)
Call us with all of your Real Estate Needs! Northouse Realty Group (616) 206-9667 Jeff Northouse - REALTOR Christine Lassa - Marketing Director www.grhomelink.com Brokered by Five Star Real Estate (616) 257-1500
I heard about this grant on the radio today. A friend just closed October 12th on her first house. Is she out of luck as far as getting any grant?
ReplyDeleteUnfortunately, to the best of our knowledge, your friend is not going to be able to qualify for this grant since the closing was in October. This grant will not be taking place until December 3rd 2012.We will do our best to keep you updated on real estate perks for you to be aware of/ take advantage of!!!Thank you for your comment! Feed back is greatly appreciated :)
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