Question:

What are the most popular FHA grant programs?

Answer:

There are several FHA grant programs, alleviating the process of homeownership to low and average income households. FHA grants may include assistance of as little as $10,000 and go to 5% of the house value.

Popular FHA Grant Programs

Not every FHA grant program is offered throughout the US. The Nehemiah and Housing Action Resource Trust (HART) programs are available exclusively for California. The Nehemiah program allows for a grant of 5% of the sales price to be applied towards the price of the house and the closing costs of an FHA loan. Under the HART program $15,000 will be contributed to the sales price of a property.

The AmeriDream and PartnersInCharity are programs accessible to US citizens all over the US - they will grant 5% of the sales price towards an FHA loan to be applied as down payment and closing costs.

Those FHA grant opportunities are available to all who meet the qualifications requirements. There may be restrictions on the homes that can be bought, or on the way the grant will be applied towards the mortgage. You can check online what the specific requirements for each FHA grant opportunity are, and see if you qualify.

Recommended helpful present and future homeowners links:
Why: Refinance to a fixed rate loan while mortgage rates are still low.
Link:
Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
Link:
Why: Know and protect your credit report and score.
Link: See All 3 National Credit Scores & 3 Reports Instantly, Online & Free
Link this QnA Print del.icio.us Digg
Was this Mortgage QnA helpful?
Not at all
  • Currently 3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
 Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA:

Common misspellings: mortage and morgage