By Melissa Sabella
First time home buyers who are purchasing a new home shouldn't forget to consider the free government grant money that may be available to them. This is cash that the buyer can receive to help them with their down payment, closing costs or mortgage rate, and the money never has to be paid back.
At the government tries to stimulate the economy and get home sales back to a normal pace, they have implemented many programs to incentive people to buy new homes. First time home buyer grants are just one of those programs, which can provide you with thousands of dollars towards the purchase of your new home.
When you take in to consideration how much savings that few thousand dollars would be over the course of your 30-year mortgage, the figures are substantial. Especially when you consider that finding and applying for these programs may take all but an hour of your time. That, for most people, is time well spent.
As you search the grant database for the available federal grant programs and first time home buyer grants available in your area, you'll quickly realize that there are hundreds of other grant programs - many of which you may qualify for as well. There is no limit on the number of grants you can apply for and receive, so don't hesitate to submit multiple grant requests. Chances are they are different agencies providing the funds, so the applications shouldn't interfere or slow down the process in any way.