Well I have heard about this first time home buyer grant from many places But now I actually need one. Has anyone here actually got this grant and do any of you know where to get this grant from? I heard they give up eo 20% grant to pay for your down payment, Where can i obtain this from?

I only know of one, and it is city specific. The city of Roseville, CA offeres a first time buyer program where they pay up to $80,000.

I think most of these fist time buyer programs are through cities, so try calling around where you are interested in purchasing.

The city of Roseville program has an income restriction, I don't know if they all do or not.

Roseville is that north or south cali?

I want to find one here in the san fernando valley in los angeles county. Where can I go to find one?

Btw once I do find one do you know how long it will take because I need to move out soon and this grant could definetly help me out.

It is in Northern California.

Most cities don't advertise these programs. I only know about the one in Roseville because my father-in-law is the code enforcer in Roseville, so he inspects the homes that the city gives grants on.

Just start calling the housing/building departments at cities and ask if the city has anything like that. It isn't quite the right place to get the right person to talk to, but the building department people will know, as the home you wish to purchase will require many, many inspections from the city before they take the risk of helping you to purchase.

When you sell the house you will most likely have to pay the city back the money that they invested in your down payment.

Mystic: Several cities in the greater L.A. metro area have had these types of programs, however, funding for them have dried up for the most part. You may still want to check with the city of LA's Housing Dept. to see if they still have funds. I do know that there used to be a long waiting list and you will have to virtually jump through hoops to qualify based mainly on verifiable income sources and urgent family housing needs. The terms of the grants are stringent too.

is there a website u could direct me 2 or a # where i can have all my questions answered.

You will have to google for the city's website and just remembered too to suggest you lookup the website for enterprise home ownership which is geared towards the city's low-income first time home buyer programs.

you mind find info on grants and first time homebuyer programs on hud.gov

While all real estate agents want to help their clients get into a home of their own... we should look at the big picture if we care anything about our "clients".

Most such programs will assist getting a person into a home but it will not assist in keeping them in one.

A very high percentage of foreclosures are the direct results of getting buyers into properties they can not afford or buyers that have no ability/ understanding of how to budget for home ownership.

Lenders have limits set to help then NOT make loans to unqualified buyers. The programs that allow us to work around those standards do place clients at very significant risk after closing. I know many simply do not care, but if your in this business for the long term, you need to advise your clients of the risks when using these programs to bypass the normal economic qualification process.