Money at Closing!
Iowa and Nebraska Grant Programs
Did you know there are state funded mortgage programs in Iowa and Nebraska that are available to first-time home buyers and military veterans? These programs can hand over up to $7,500 to future buyers. These grants do not have to be repaid, and are applied to closing costs and the down payment at closing.
Recent client/recipient success stories:
Two brothers bought a house and brought only $37.00 to closing.
A military spouse (widow) bought a house with the $5,000 grant.
A couple purchased a home and received $1,100 back at closing.
A single father received $2,500 in grant money to be able to buy a newer home.
A senior military veteran downsized with $7,500 in grant monies applied to the purchase.
In most of these cases, the buyers had little to no money saved away for a down payment and were able to buy because of these great programs. To qualify as a first-time home buyer you must not have purchased a home in 3 years.
For more information regarding qualifications and requirements, give me a call!
Iowa Home Savings Account
Also, new in Iowa, there is a Home Savings Account that allows any person to save away up to $2,000 a year (non-taxable) to be applied to a future home purchase in Iowa. Funds must be used within 10 years and the participants do not need to be related in order to qualify. For example, your grandfather OR your neighbor can put $2,000 a year in an account for your future purchase of a home. Pretty neat!
For additional details about this program, click here or contact me.
