When it comes to the real first time home buyer grants, I hate to disappoint you, but they are greatly misunderstood. Why do I say that? Many people are trying sell books and CD's telling you how easy they are to get. It's not that easy.

In this article I want to help you understand first time home buyer grants and how they really work.

HOW FIRST TIME HOME BUYER GRANTS WORK

Each year the federal government will grant money for housing programs. Without many exceptions it's done through the Department of Housing and Urban Development or HUD.

Many people have been lead to believe these first time home buyer grants can be obtained on their own. That's why there are so many websites, books and CD's being sold. The masses are told that all you have to do is apply and the FREE money is all yours and you do not have to pay it back.

Well, there is some truth to that but it's not quite so easy. Like everything else in this information age, it's all about the money. The money you put into the pockets of the people selling the information.

Please keep reading to learn how you can get a first time home buyer grant.

HOW TO FIND FIRST TIME HOME BUYER GRANTS

First of all, save your money. Don't bother buying those books and tapes. First time home buyer grants are found right in your own neighborhoods.

What happens each year is HUD will allow so many millions of dollars to go to non-profit agencies in your community.

So how do you find these agencies? I'm glad you ask, because I want to tell you. Before I do, allow me to tell you a little story.

I used to be a loan officer for a large national bank. I specialized in first time home buyer loans. I really enjoyed helping people buy their first home and realize their dreams.

I had this couple one time who wanted to buy a home. She asked me about first time home buyer grants. I was not the sharpest knife in the drawer so to avoid looking too stupid I offered to find a grant for them.

After a great deal of homework, I found a non-profit agency that offered grants for people buying their first home right in our own city. They had several hundred thousands of dollars available.

Wow, I thought this was great. So I proceeded to help the couple apply for the grant money. They were going to buy a home with an FHA home loan. I really recommend you do the same thing. Use the FHA mortgage since it works well with the grant programs. In fact, HUD is the government agency behind the grants and the FHA loan program.

Sorry, I got to rambling on. To make a long story short, the couple received a $5,000 grant. We used this for the down payment. As long as they lived in the house for a specific period (5 years I think it was) they would not have to repay the money.

So it was a true grant. FREE government money. The only strings attached was how long they lived in the home.

WHERE TO FIND FIRST TIME HOME BUYER GRANTS

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