first time home buyer grants

Quick Facts About Government Grants There are various types of grants which can help people looking to purchase their new home. Though most programs have been developed by HUD, the department does not allot these grants directly.The following are some basic facts about government grants for first time home buyers. 

1. To begin with, one has to know that these grants are not loans, but government assistance for the development of the community in general. 

2. No such grant program will provide you with 100% finance assistance for buying a house. In other words, none of these programs will offer you 100% cost of the house. In fact, most of these first time home buyer grants cover only less than 10% of the cost of the house. 

3. It is mandatory to attend the HUD-approved housing counselling class, so as to qualify for grants offered by these programs. more info click here