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How does a first time homebuyer find out if they qualify for a grant?

Asked by Trulia Brooklyn, Brooklyn, NY Tue Apr 2, 2013

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First thing is to identify the grants available to any particular buyer. This is a bit difficult because not all grants are known to all real estate professionals, so they're even less known to buyers. Still, it's best for buyers to ask their Realtor(s), Loan Officers and even attorneys in addition to doing their own research on which grants, if any, are available to them.

Each grant has their own requirements, and process for how buyers can apply. Most of these grants are designated for first time home-buyers who intend on purchasing a primary residence, and fall under a certain income bracket or specific townships or counties. Grants often come contingencies, mainly requiring that home-buyers live in the homes for a specific time frame, or the grants then become fully or partially payable back to the organization(s) who issued the grants.

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Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648
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