slight hijack - we are buying our first home at the moment, we are fully qualified for an FHA loan, but on track to be approved for a USDA loan by the end of the year (waiting for credit score to rise a little).. from everyone that I’ve spoken to locally, they keep bringing up grant programs.. one guy even told me he was given around $100K from a grant, and if he stays in his house for a certain amount of time, he is forgiven from that loan... wtf are these people talking about??

I don’t NEED these ‘grants’ per se, but shite, if they are giving out opportunities like that, I’d be a fool to not at least look into it... and fwiw, I’m assuming that this is total BS, word of mouth type stuff

OP - sorry for the hijack, maybe you can get some useful info from my question

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Posted by frogtown

Member since Aug 2017

5064 posts

Posted on 9/29/17 at 10:26 pm to Mr. Hangover

quote:
I don’t NEED these ‘grants’ per se, but shite, if they are giving out opportunities like that, I’d be a fool to not at least look into it... and fwiw, I’m assuming that this is total BS, word of mouth type stuff

LINK

I did mortgages for Washington Mutual until they went bankrupt in 2009. Grant programs are out there(not for 100K though).. I linked to one here in the state of Georgia that I use to use. Just so you get an idea. You might have something similar in Louisiana.

In Georgia, the grants where for $5000 to $7500 in down payment/closing cost assistance that you did not have to pay back if you stay in the house a certain amount of years. It was free money. They had income requirements (you can't make too much) etc. And you could only buy a home in certain areas. Also, this was for first time buyers only.

Your most experience loan officers will know about these programs.

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