First Time Home Buyers Grants Programs - Loan Love Offers House Financing Tips

PR Newswire

SAN DIEGO, May 12, 2014 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that offers in-depth information on home loans that experienced home buyers can benefit from in an easy-to-understand and entertaining way that even first-time borrowers will be able to grasp. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The experts are considerate of the needs of loan borrowers, as shown in their newest article titled "First Time Home Buyers Grants (Do They Exist?)." This article helps loan borrowers lay the groundwork for getting a home grant and other options available such as first time home buyers grants programs.

Many first-time home owners may find owning a new home exhilarating but also overwhelming as well as financial issues start to roll in. In this case, the Loan Love article tells loan borrowers not to panic, but to first consider ask themselves a few questions, such as "Do I qualify for a VA loan? How much am I able to put into a down payment?" Asking these questions may not only expose the financing options a home owner may have, but it will also make the loan borrower's life a bit easier, at least when it comes to paying off a home.

The article also provides information grant programs, first by stating to home buyers on the process of obtaining a home buyer's grant, specifically: "One of the first things to know about home buyer grant programs is that the federal government does not offer grants to individuals, at least not directly. Instead, the federal government works with non-profit organizations and local governments to provide financial assistance and related services. The amount of these grants you could be eligible for will vary, depending on where you reside as well as a number of other criteria.

Grant programs are not meant to provide 100 percent financing, nor will they replace your need to quality for a home mortgage. Instead, grants and similar programs can provide some financial assistance to be used in conjunction with a mortgage loan.

"The article also makes mention other financing programs as well, programs such as the HOME Investments Partnership Program. Home buyers can use these grants in a variety of ways for home related expenses, namely purchasing, building affordable housing for rent or ownership. The article provides readers with a direct link on information of the HOME program attached to the article. The article also makes mention of another program called the Mortgage Credit Certificate (MCC) Tax Credit Program, a federal program, a program intended to help home buyers reduce their federal income tax liability. Technically not a grant, most home buyers will favor this program in order to save a little income.

One program the article makes note of that can help first-time home buyers on low income is the Housing Choice Voucher Program. The article explains further: "Just as it does with its rental participants, HUD's Housing Choice Voucher program provides monthly financial assistance, but rather than going toward rent, the assistance goes toward homeownership expenses. HUD provides authorization to state governments and public housing authorities to deliver the program to qualifying families."

To learn more of these available home buyer grant programs, please visit LoanLove.com for the complete article.

Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, contact@loanlove.com

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