Grant Money for Purchasing a Home

Reader question: How can I receive grant money for purchasing a home.

Unfortunately, given the current state of the economy, home buying grants are harder to come by these days. There are fewer grants to go around and just as many people -- if not more -- competing for them.

This doesn't mean you still can't find a home buying grant to help with your purchase. It just means you'll be doing more homework.

My advice is to start with your state. Many states in the U.S. offer home buying grants specifically for residents. On the HUD website, you can find a list of home buying programs (including grants and other buyer assistance programs) neatly organized by state. Here's the link: http://www.hud.gov/buying/localbuying.cfm

If I were you, I'd start making a list of grant programs offered in your state by using the website above and also using Google. You can do a keyword search for your state + the phrase "home buying grants" and find a lot of information that way. Make a list of all the programs you can find, and then start researching them to see what the qualification criteria are. Most home buyer programs have specific criteria -- they don't offer them to just anyone.

Here's another article on our website you may want to peruse:
Home Buying Grants 101

Hope that helps you out some. Good luck.