Down payment grants fo investors? - Posted by John

Posted by Mark on March 31, 2002 at 15:38:23:

You can only receive the grant if you are buying property that will be used to help low to moderate-income persons. The grant program is designed to help investors who are buying property.

Down payment grants fo investors? - Posted by John

Posted by John on March 30, 2002 at 01:29:19:

Does anyone know of any company that provides downpayment grants to investors. I know of companies that provide them for homebuyers who will occupy the home, but none that will help investors.

This would be a great help for investors who are starting out with little cash.

Check out this site… - Posted by Mark__MA

Posted by Mark__MA on March 30, 2002 at 01:38:27:

www.alphaassistance.com

They provide grants to both homebuyers and investors and the program works pretty much like a Nehemiah transaction or any other grant program . In doing my researh, I found that they are the only ones doing it right now. They are very helpfull. I have used them on several deals. They will give up to $10,000 per deal.

There are two catches though.

  1. You can only receive grant funds for homes that you intend to rent to low to moderate income persons.

  2. You will have to use a lender that allows gift contributions from a non-profit.

Other than that, the grant is simple to get.

Good luck…

Re: Check out this site… - Posted by vikki

Posted by vikki on March 31, 2002 at 14:42:27:

I am wholeseller.How can I use grant to sell my houses fast? Can you explain to me? Thank you.

Re: Check out this site… - Posted by viktoria

Posted by viktoria on March 31, 2002 at 14:24:23:

I am investor and I am helping my sellers to sell their homes. How I can use this grant on my deals? Can you help me? Thank you.

Re: Check out this site… - Posted by Brent_IL

Posted by Brent_IL on March 31, 2002 at 18:44:02:

Most of the sites have a “sellers” section explaining advantages. The quick version is that sellers kick-back up to 6% of the selling price and pay a fee so their buyer can use the funds as a down payment. FHA and other programs will accept gifts from a third-party. The seller will trade the fee for a sale now vs. waiting for another buyer.