FHLB-A First Time Buyer Program Still Has Funds! August 25, 2008
Posted by Patti Shawgo in First Time Home Buyers, Interesting Stuff, Local News.trackback
The Federal Home Loan Bank of Atlanta (clickfor my first post on this program) First Time Home Buyer program, which can give you $10k towards down payment and closing costs still has funds. But they are running out!
This program gets new funds January of each year and tends to run out sometime in August/September each year. You need to make less than 80% of the HUD median income for the area you are buying, but the FANTASTIC thing about this program is that you can use it anywhere in the state of Maryland (or all of Virginia or DC). Also…this money counts as your 3% required investment for FHA loans. Oh…and this money is forgivable after only 5 years. It used to be forgivable over 10 years, but was recently reduced to just 5.
So…if you’ve been putting off finding a new home, hurry up!
Are there still grant money available as of today (09/24/08)? I live in Richmond, VA. Thanks!
Is there any specific website for the application details? I am the seller and our potential buyer is a first time home-buyer with no money for closing. I would like to provide her with all the information needed to attempt and apply. Would you happen to know if funds are still available as of today (11/12/2008)? We are located in Baltimore, MD. Thank you!
Rikki,
I submitted a contract through my lender on 10/2008. All the monies where exhausted. I now have to wait until Jan. 2 2009. Tell your buyer to start applying now though and take a FTHB class.
Hello my name is Gerald I’m trying to buy a house, as a first time buyer ? Are some of the grant money still available ? how do I attend your class to get more info.
[...] The Federal Home Loan Bank (FHLB) First Time Buyer Grant in 2009 May 7, 2009 Posted by Patti Shawgo in Uncategorized. trackback Wow! I’ve been getting a ton of comments lately on by old post about FHLB, and figured it was time to update it. You can check out the old post HERE [...]
So as of today, August 25, 2009, there is money available for Md through the FHLB First Time Buyer Grant?