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Grants and No Interest Loans for Homebuyer Assistance Programs

If you're looking into a buying a home – especially if it's your first home – you're probably struggling not only to understand everything involved, but how to meet all of the requirements in place for a loan. Things like credit scores are important, but it's also important to be able to come up with the down payment needed to make your purchase. No matter what your specific obstacles are, you should remember that you do have options. And depending on where you live, you may be able to access numerous programs designed to provide homebuyer assistance to those who need it most.

Some of the potential types of assistance you might be able to take advantage of include the following.

  • Grants – Grants exist for a variety of different reasons. Within the realm of first time homebuyer grants or other house buying grants, there are options that can provide you with your down payment, cover closing costs, and more. By doing so, they help make it easier for struggling families to raise the money needed to pay for their loan.
  • Loan Programs– While things like FHA home loans are noted for making it easier for buyers to purchase their first homes, there are also some programs that actually come with no interest mortgage options. These no interest loan programs aren't always easy to qualify for, but they can help tremendously.

The primary focus of any of these homebuyer assistance programs is simply to make it easier for you to purchase your home. Whether it's with helping you get the money needed for closing costs or down payments or just offering better loan rates, there are options out there.

However, there are several key things to keep in mind here. Things you'll want to remember include the following.

  • Certain states have more programs in place than others. For example, Pennsylvania has 11 programs in place for first time buyers as well as those buying their second or third homes. Wyoming and New York also have multiple options available. See the list of States that offer the most help to people with their home buying endeavors.
  • Many of the best home buying grants and programs focus on veterans, minorities, and the disabled. This is to help those who might need assistance the most. However, plenty of grants and other programs are in place for the middle class and the average American, too.
  • Your income will likely have a direct impact on your ability to get assistance as well. The obvious reason is that the more money you make, the less help you'll probably need. Different programs and grants have different income caps, so be sure not to simply assume that being turned down for one means you'll be turned down for them all.

Take a look at the programs offered in your state and you might find that there are plenty of options for assistance when you're buying your home. This is a major purchase and getting all the help you can get is a must. Luckily, not only are there federal programs out there but now there are several state options as well to help make it easier to get the loan you need and get the house of your dreams.

Learn more, read 9 Top Tools for First Time Home Buyers and learn exactly how to reach out to the right places for financing assistance in this evolving economy.


First Time Home does not offer no interest loans, grants or down payment assistance for first time home buyers. is a website that offers information about residential real estate financing and does not guarantee rates or pre-qualification directly or indirectly through representatives or agents. provides a news and information service by offering editorial content related to the mortgage industry.

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