Just had this emailed to me and wanted to pass it along. Seems you can get up to $20,000 of "free money" - wow - I had only heard of up to $10,000!! See - just goes to show that I'm not the loan expert - just the house expert!!
"The most popular of the true grants available right now is provided by the Department of Community Affairs. The following are some of the highlights:
Below market interest rates
Income limits based on county and family size
Must do homebuyer education class
New homeowners only
Grants from $5,000 - $20,000"
This information came from...David B. Abrahamson
Regional Operations Manager
Colonial Bank
If you would like more information on this and other loans please give me a call!!
......THANKS DAVID FOR THE INFO!!
Wednesday, May 21, 2008
Tuesday, May 20, 2008
Free Government Money...Have you seen the sign on Main Street
I was driving down Main Street the other day and saw the new sign that Southern States Lending has put out. I wanted to comment on it...
Free Money from the government IS possible - believe it or not!! Here is the little bit that I know...
The program that I am most familiar with gives a $10,000 (or is it $5000) grant to first time buyers purchasing a home in the city of Cartersville. If you live in the home for 5 years the debt is forgiven and the money is yours free and clear. If you move before your 5 years are up then you pay them back the grant money. (I'm not sure of the repayment terms) There is only so much money available and it runs out quickly so you have to be first in line for it and you have to purchase a house that qualifies for the grant. I've known several buyers who have used this money and it has meant the difference in their being able to purchase a property or continuing to rent.
There are other loan programs out there similar to this that are not necessarily money from the government but are still worth checking out - Here are a couple that quickly pop into my mind...
Down payment assistance programs (Nehemiah is a popular one) help give you the money you need for a down payment so you don't have to come out of pocket with the money.
Rural development loans (that most all of Bartow County qualifies for) help in purchasing homes in less developed areas.
These programs are still out there (as far as I know) and can be used by buyers so be sure and ask your lender or Realtor about them!!
For your information and to double check my facts (as well as other loan options) - I'm forwarding this post to some of my lender friends for their comments. After all - I'm just a Realtor - I know houses not loans - I leave the money to the experts!! So stay tuned and see who all posts and what great advise comes back because in this economy FREE MONEY is always a GREAT thing!!
Leigh Anne
Free Money from the government IS possible - believe it or not!! Here is the little bit that I know...
The program that I am most familiar with gives a $10,000 (or is it $5000) grant to first time buyers purchasing a home in the city of Cartersville. If you live in the home for 5 years the debt is forgiven and the money is yours free and clear. If you move before your 5 years are up then you pay them back the grant money. (I'm not sure of the repayment terms) There is only so much money available and it runs out quickly so you have to be first in line for it and you have to purchase a house that qualifies for the grant. I've known several buyers who have used this money and it has meant the difference in their being able to purchase a property or continuing to rent.
There are other loan programs out there similar to this that are not necessarily money from the government but are still worth checking out - Here are a couple that quickly pop into my mind...
Down payment assistance programs (Nehemiah is a popular one) help give you the money you need for a down payment so you don't have to come out of pocket with the money.
Rural development loans (that most all of Bartow County qualifies for) help in purchasing homes in less developed areas.
These programs are still out there (as far as I know) and can be used by buyers so be sure and ask your lender or Realtor about them!!
For your information and to double check my facts (as well as other loan options) - I'm forwarding this post to some of my lender friends for their comments. After all - I'm just a Realtor - I know houses not loans - I leave the money to the experts!! So stay tuned and see who all posts and what great advise comes back because in this economy FREE MONEY is always a GREAT thing!!
Leigh Anne
Friday, May 2, 2008
From Leigh Anne
I've had a request from someone to be added onto my newsletter mailing list...but after thinking about it a bit I've decided that I'm going to try something new. I'm going to create an online monthly newsletter. It will be basically the same thing that my "snail mail" newsletter contained but it will be online and easily accessed by all!! I'll post an update here when I add them so you will all be able to go and see it. For those of you who haven't seen my newsletter, it contains lots of helpful hints for homeowners. I've always had lots of compliments on them. I've even had several people tell me they put some of the articles in their calendar to help them remember certain yearly maintenance projects. Hope you enjoy them and learn a lot...be sure and let me know!!
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