$25,000 Grant for First Time Home Buyers

Are you a first time home buyer looking for down payment assistance wondering if Biden is going to pass the his first time home buyer tax credit 2021? In this video, we look at a $25,000 Grant for First Time Home Buyers called Downpayment Toward Equity Act of 2021. We discuss the eligibility requirements for receiving the proposed grant, the likelihood of it passing and how it could affect our current housing market.

RESOURCES:

⏬Summary of Downpayment Toward Equity Act of 2021⏬

Are you in the process of buying a home? Have you been waiting for some form of down payment assistance either in the form of a tax credit or a grant to start the home buying process? How do you feel a home buyer grant will affect the 2021 housing market?

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Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty

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[logicalthinker]

Thanks for the information. If the government really wants to help first time homebuyers, they should stop allowing foreign investors and institutional investors from buying residential real estate.

[ordinaryman]

sellers already have increased their home price by another 25K.

[ReeLSpirit]

I don’t understand what’s the point of this. Like give $25k and every house just goes up that amount… sounds like a bandaid fix vs an actual fix to help the issue

[richardknieper]

Why would someone’s parents owning their house have anything to do someone purchasing a home for their family for the first time

[Unimportantrichard]

Confused on why it matters if my parents own a home or not. What does their finances and ownership have to do with me?

[timothyandrewnielsen]

At the rate theyre printing money, 25k wont buy a chicken dinner soon.

[summerbrooke]

This bill could allow me the extra bit that I need to purchase in my area. From the criteria you covered here, our family would qualify for this.

[warholcow]

It’s almost like the government doesn’t understand the basics of supply and demand...

[Mike-xpqt]

It almost feels like this is being proposed to slow down buyer demand. Seems like it’s designed to make first time home buyers wait

[robsantaanaca]

FHA and Calhfa etc have down payment programs and BofA already has a $17500 grant and it does not really work because a seller balks at most FHA offers in a hot market. Anytime you mention its a government involvement, it complicates time and costs and in theory its a good idea but like most programs it does not work in high cost areas.

[sinfulbeliever]

What sucks is my parents own a home....in the ghetto....the house is only worth 35k but they own it. So now i don't qualify

[MrYodi]

I served in the military and it's ridiculous to purchase a nice home that doesn't require a lot of repairs, is in a not so favorable neighborhood, or that isn't stacked on top of someone else's home with no yard!

[protox]

Cool, so they're going to repeat what they did with college tuition... Get ready for home price hyper-inflation just like tuition!

[rebeccamerzius]

What does one’s parents have to do with someone buying a house? At this point I feel like they’re just drafting bills just to say they’re doing something. They should stop foreign investors from purchasing residential property.

[david_lawrence_h]

25K in the SF Bay Area is joke. Unless you're a cash buyer or putting at least 20% down, your bid will be ignored. The 5-10% downers not only have zero chance in a bidding war, they aren't financially in a position to cover the difference when the appraisal comes in way under their bid. 25k isnt going to cover that when the home appraises 50k under the bid.

[JetScreamer_YT]

I was a ward of the state. I'm a disabled adult now. This may be good for me. Thanks!

[luvmelove]

I’m so blessed to have found your Chanel

[ZaRainBoW]

Why not set law home inspection is a must to protect buyers who willing to pay highest.

[audreyberry]

Awesome! Thanks for this update. Very helpful for understanding future plans.

[unknowndriver]

25k grant seems a lot but its not cause homes are overpriced for more than 150k so that grant mean nothing