Breaking Down Biden's $25,000 First Time Home Buyer Grant 2021

Joe Biden's $25,000 First Time Home Buyer Grant is finally in writing and I'm diving into it so you can see how this will help you buy your first home this year!

Now while it's still just a bill this has the potential to impact several first time home buyers if it gets signed into law this year. Originally Joe Biden suggested that this would be a Tax Credit as opposed to an actual program, but looks like that course has been reversed and will be up to a$25,000 grant for first time home buyers to use at closing!

How can First Time Home Buyer use this grant to buy a home in 2021?

Time Stamps:

0:00 - Intro
0:44 - What is this Grant Program?
1:39 - Who is Eligible?
2:32 - How Much Will You Get?
3:15 - Income Limits
4:04 - How Can You Use it to Buy a Home?
5:16 - The "Fine Print"
5:44 - Changes I'd Like to See

Summary of Down Payment Assistance Toward Equity Act of 2021:

#firsttimehomebuyer #mortgage #realestate
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Help me get closer to my GOAL of helping 100 Families EVERY YEAR buy their first home here in California!

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Boring legal stuff:
Licensed by the California Department of Business Oversight NMLS 1410686, a Licensed Representative of American Mortgage Network NMLS 1833427 Equal Opportunity Lender. All thoughts and opinions are my own, not of my company. Any rates, terms, programs, etc. mentioned in these videos are hypothetical and are not an advertisement or promise to lend. Your actual mortgage terms might vary based on qualifications. Always consult a licensed mortgage professional in your area.

[CatonDelRosario]

*Let me know what you think of the new bill and if you have any questions on it!*

[DSmith-ixxf]

Agreed, first gen home buyer requirements are a negative. We should not be judged by what our parents did or didn't do. Great content here! 👍

[jojog]

Thank you I was looking everywhere for this bill and what it was about. your great!

[LEGACY]

Redirecting money that's supposed to go toward infrastructure, to help people buy a house they can't afford. Forcing those same people to be trapped paying off loan with interest for the next 15-30 years of their entire lives. While simultaneously raising the cost of living to compensate all the money that has been recently printed out of thin air. Not a good idea at all.

Federal grants are funded not by the Lower House of Representatives, but by Congress, Via the Annual Appropriations Process. The remaining percentage is considered Non-Discretionary Funds, and that is what’s supposed to be used for Federal Grants. Has it even occurred to anyone where this "$25, 000 First Time Home Buyer Grant" gets its money from. Guess what ladies and gentlemen, it's not from Non-Discretionary Funds.

[YuShawStang]

Damn, I bought an investment property in Ohio, certainly not qualify for it.