New - House Monster 4.0
Released January 2014

A new special report has been included in the new release of House Monster 4.0 entitled "The Truth About Government Grants" which is cram packed with 599 pages of grant resources and links... it is located on the House Monster 4.0 forms disk in the HMS Special Reports folder. If you have an earlier version of House Monster call 1-800-578-8580 to get your upgrade...

First Time Homebuyer Grants

Would you like your buyers to receive a free gift of money to be used for the down payment and closing costs for the purchase of your houses?

If so, there is great news for you. Free money for first time homebuyers who need help with the down payment and closing costs is readily available. This money comes in the form of government grants, tax credits and down payment assistance programs.

Listed below are links to state first time homebuyer assistance programs. There are many  resources where the prospective first time homebuyer can apply to receive financial grants, tax credits and down payment assistance to buy their first (your) home.

Many states have grant money available in amounts of multiple thousands of dollars.  This is free money you shouldn't pass up!  Start your research HERE.

Simply go to your state's housing web pages linked below and the various Down Payment Assistance Programs available through the link at the upper left of this page to get the necessary information.

If your state does not have a link listed below, it is because we are still researching the state agencies that provide grants to first time homebuyers. This does not mean you have no access to first time homebuyer grant money.

To conduct your own internet search enter "'Your State Name' first time homebuyer" without the " marks into your favorite search engine.

Help us improve this page... please eMail any links you find that you would like to share to HouseMonster@StreetSmartInvestor.com

Federal First Time
Homebuyer Grants

Besides the state programs, there are federal funds and grants available to first time homebuyers through the Homes and Communities program of the United States Department of Housing and Urban Development (HUD). On their website you'll find complete grant information, application forms, description of available funds, as well as many other helpful tools.

Your buyer is eligible for a First Time Homebuyer Tax Credit from the federal government for up to 10% of the purchase price of the home up to a maximum of $8,000 if they have not owned their primary residence in the own name during the last 3 years if they enter into a purchase agreement through April 30, 2010 and close before June 30, 2010.

You should investigate what your potential first time homebuyer  can qualify for. You can visit the website by going to: US Dept. of Housing and Urban Development.

Also, there is a website with a complete list of all grant programs available through the United States Federal Government: Grants.gov.

You should spend the required time to investigate how many individual grants your buyers might qualify for.

State First Time
Homebuyer Grants

Listed below is the contact information for the first time homebuyer grant programs in each state. However, not every state offers grants to first time homebuyers. If a state does not have link indicated, it is because we are still investigating that state. You can still turn to the federal government for grant assistance.

The state links below should only be viewed as a starting point for your search.

Alabama does not currently offer first time homebuyer grants. They do, however, offer below market interest rates to first time homebuyers. Depending on your buyer's income, in some cases the interest rate is zero. While this is not technically a grant, it is the same net effect. They are basically given the money they would have paid in interest on your mortgage loan. There are other grant options available to residents of Alabama as well.

Alaska does provide a variety of first time homebuyer grant programs, however residents receive an annual dividend from the state government from oil field revenues.

Arizona provides several first time homebuyer grant programs.

Arkansas provides one first time homebuyer grant program, the Downpayment Assistance Program.

California does not currently offer first time homebuyer grants. They do, however, offer low-interest loans to first time homebuyers who meet certain income limits. There are also local grant programs available in various communities.

Colorado does not currently offer first time homebuyer grants, but they do offer low-interest loans to first time homebuyers who meet certain income limits. There are also local grant programs available in various communities.

Connecticut doesn't currently offer first time homebuyer grants, but does offer low-interest loans to first time homebuyers who meet certain income limits. There are also local grant programs available in various communities.

Delaware provides one first time homebuyer grant program which will give your buyer a grant up to 3% of the mortgage amount which is available to pay closing costs.

Florida does provides a few different first time homebuyer grant programs.

Georgia provides one first time homebuyer grant program and a  tax credit of up to $1,800 (payable over 3 years at $600 per year).

Hawaii, through the Department of Hawaiian Home Lands, have homebuyer awards available for native Hawaiians.

Idaho does not currently offer first time homebuyer grants,  but does offer low-interest loans to first time homebuyers who meet certain income limits. There are also local grant programs available in various communities.

Illinois currently provides one first time homebuyer grant program for low-income first time homebuyers.

Indiana does not currently provide a first time homebuyer grant program, but they do offer a loan that can turn into a grant. Your buyer can receive up to $3,500.

Iowa provides several first time homebuyer grant programs.

Kansas offers the First Time Homebuyers Program, but it frequently runs out of funding.

Kentucky provides a $5,000 first time homebuyer state tax credit in addition to the federal tax credit and offers several loan programs that can also turn into grants. Your buyer can also receive up to $10,000 down payment assistance depending upon their income.

Louisiana provides many options for the first time homebuyer and does offer low-interest loans to first time homebuyers who meet certain income limits. There are also local grant programs available in various communities.

Maine provides First Home Program which is a low fixed rate mortgage program to help your buyer buy a home of their own – often with little or no down payment. Mortgage options are also available with no points and low points.

Maryland does not currently offer first time homebuyer grants, but only provides reduced interest loans, however, local grant programs are available.

Massachusetts does not currently offer first time homebuyer grants, but only provides reduced interest loans, however, local grant programs.

Michigan does not currently offer first time homebuyer grants, but only provides reduced interest loans, however, local grant programs are available.

Minnesota does not currently offer first time homebuyer grants, but only provides reduced interest loans, however, dozens of local grant programs available.

Mississippi provides one first time homebuyer grant program: Down Payment Assistance Program. Your buyer can receive up to 3% of the mortgage amount.

Missouri provides one first time homebuyer grant program: First Place Loan Program. Your buyer can receive up to 3% of the mortgage amount as a grant.

Montana does not currently offer first time homebuyer grants, but only provides reduced interest loans, however,  local grant programs are available.

Nebraska provides one first time homebuyer grant program: Single Family Homebuyer Assistance. Your buyer can receive up to 4.25% of the mortgage amount as a loan that turns into a grant.

Nevada does not currently offer first time homebuyer grants, but only provides reduced interest loans, however,  local grant programs are available.

New Hampshire provides one first time homebuyer cash grant program: Single Family Mortgage Program. Your buyer can receive up to 4% of the mortgage amount as a cash grant.

New Jersey provides a unique first time homebuyer grant program: Individual Development Accounts. Your buyer can receive a grant of up to $4 for every dollar they save towards the down payment for their first home.

New Mexico does not currently offer first time homebuyer grants, but only provides reduced interest loans, however,  local grant programs are available.

New York provides one first time homebuyer grant program, but like some other states, it is a loan that turns into a grant after a period of time. Your buyer can receive up to 5% of the mortgage amount.

North Carolina provides one program that is very close to a grant: The American Dream Down Payment Initiative. First time homebuyers can get up to $7,000 for use toward the down payment and closing costs.

North Dakota provides one first time homebuyer cash grant program: Start Program. Your buyer can receive up to 3% of the mortgage amount as a cash grant.

Ohio provides one cash grant program. First time homebuyers can receive a grant of 2% of the home's purchase price.

Oklahoma provides one cash grant program for first time homebuyers who do not have funds for the down payment and closing costs: 1st Gold.

Oregon provides one program that is very close to a grant: Purchase Assistance Loan. First time homebuyers can get up to $10,000 for use toward the down payment and closing costs.

Pennsylvania provides one program that is very close to a grant: HOMEstead. First time homebuyers can get up to $15,000 for use toward the down payment and closing costs.

Rhode Island does not currently offer first time homebuyer grants, but only provides reduced interest loans. There are, however,  local grant programs as well as Federal programs.

South Carolina provides one first time homebuyer grant program, but like some other states, it is a loan that turns into a grant after a period of time. Your buyer can receive up to $4,000 that is forgiven if they remain in your home for 5 years.

South Dakota provides one program that is very close to a grant: The American Dream Down Payment Initiative. First time homebuyers can get a zero-interest loan for use toward the down payment and closing costs. What your buyer would have paid in interest in effect becomes a grant.

Tennessee provides one first time homebuyer grant program: American Dream Down Payment Initiative grant. Your buyer can receive up to $5,000 that is forgiven if they remain in your home for 5 years.

Texas provides one first time homebuyer grant program:  Program 61 - Non-targeted. However, it is frequently out of funding. When the program has funding, first time homebuyers can get a cash grant of 4% of the purchase price to be used for down payment and closing costs.

Utah does not currently offer first time homebuyer grants, but only provides reduced interest loans. However, other grant options are available to residents of Utah.

Vermont provides one first time homebuyer grant program, but like some other states, it is a loan that turns into a grant after a period of time. Your buyer can receive up to 3% of the loan amount which is forgiven if they remain in your home for 4 years.

Virginia does not currently offer first time homebuyer grants, but only provides reduced interest loans. However, there are other grant options available.

Washington does not currently offer first time homebuyer grants, but only provides reduced interest loans. However, there are other grant options available to residents of Washington.

Wisconsin does not currently offer first time homebuyer grants, but only provides reduced interest loans. However, there are other grant options available to residents of Washington.

Wyoming provides one first time homebuyer grant program, but like some other states, it is a loan that turns into a grant after a period of time.