Biden's Down Payment Grant - $25,000! 😱

Biden's $25k Down Payment Grant. Once was deemed a tax credit, now President Biden's Down payment Toward Equity Act of 2021 has been released. We've all been waiting to see about the new legislation around the Tax Credit for first time home buyers, now we know more! Now If you are a First Time Home Buyer, you are going to want to check out this week's video!

Buckle up for the ride! Of course $25,000 doesn't come without restrictions, Right? Wrong!

1. Administered by HUD, the Department of Housing and Urban Development. HUD must use at least 5% to support housing counseling activities.

2. Unlike A Tax Credit, this Grant - funds may be used solely to assist eligible home buyers purchase homes, either through down payment assistance, closing cost assistance, or payments to reduce the interest rate on a mortgage.

Now The Fun Stuff! Who is Eligible?

1. - “First-time home buyers” are those borrowers who have not owned a home
in the prior three years AND "first generational".....meaning your parents or/guardians have never owned their own home during the home buyer’s lifetime or previously owned a home but lost in foreclosure, short sale or deed-in-lieu of foreclosure or do not currently own a home.

2. Prospective Home Buyers must have an income at/below 120% of the area median income (otherwise known as AMI)

3. Home buyers may receive a baseline up to $20,000 in assistance, or $25,000
in assistance if the home buyer qualifies as a “socially and economically disadvantaged individual.” PER HUD - The act defines “socially disadvantaged individuals” as “those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.” An “economically disadvantaged individual” is one who meets the bill’s income requirements.

4. Prospective homebuyers must occupy home for at least 12 month or would have to repay ALL ASSISTANCE RECEIVED.

Have Questions? Reach out to our team today!

EASILY APPLY FOR A LOAN

Make sure you guys Like, Subscribe, and leave a comment letting me know what you thought of the video! 👇👇👇

3. Call Me : 682.365.0816

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Please watch: "First Time Homebuyer Mistakes"
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[kickitfoo]

Does California have something similar? If texas has a good plan id move over there asap n start a new life with my new home

[innositaproduction]

Congress has not approved a $25, 000 tax credit for first-time homebuyers. The proposed bill, The Down Payment Toward Equity Act of 2021, is still in draft form and it has not yet been presented to Congress or voted on by the 117th Congress

[lisaschiesser]

Hey, this is awesome I have always wanted to own a house. I live in Louisville, Kentucky. I am currently renting a townhouse paying 1324.00 a month. Both of my parents passed away years ago. I make $33, 000 a year. I also have a daughter that has down syndrome. She will most likely live with me for the rest of my life or hers depending on who goes first.

I have been divorced for 20 years. For 20 years I have been renting.

Please tell me you can help me. If not could you give me the path to make it happen?

Thanks Lisa

[kennethbishop]

i wont to move to oklhoma can you help me

[stephg]

I need to apply were do that I'm in Montana

[cateyes]

How do I apply I meet the requirements. I'm located in Tennessee

[vinettademer]

Hi my name is vinetta. I who likes to know about this lone