First Time Home Buyer Grant Program - DC, MD, VA, NC, SC, GA, FL or AL

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Education & Training with Retired Real Estate Broker, Maryland Blogger
http://actvra.in/rD4

First Time Home Buyer Grant Program

The Federal Home Loan Bank of Atlanta (FHLBA) participates with approved lenders to offer First Time Home Buyer Grants to purchase properties and the money can be used for down payment and closing costs. No monthly payment is required!

Highlights:

1.    First Time Home Buyers only (not owned a home for 3 years)

2.    Owner Occupied properties only

3.    Income restrictions - 80% of Area Median Income

4.     Non-Occupant Co-Borrower’s are allowed. Does not count towards income restriction!              

5.     Home buyer counseling required (No fee to buyer)

6.     Buyer must have minimum $1,000 of their own funds into the transaction

7.     The funds available are a 4:1 match. For every $1 the buyer puts into the transaction the FHLBA matches with $4 up to a maximum of $5,000. A borrower who contributes $1,250 can get $5,000 from the grant program.

8.     This grant is not repaid if the buyer lives in the property for 5 years. If less than 5 years there is a recapture amount to pay back

9.      Single Family, Townhome or Condominium

10.    FHA or VA

11.    Property located in DC, MD, VA, NC, SC, GA, FL or AL.        

Presidential Bank Mortgage is an approved lender for this outstanding program.

For More Information, Contact: Joseph F. Salisbury   Office: (301) 590-8911 ext. 209, Manager                                                          Cell:    (301) 706-7475 NMLS# 525752 joe@presidential.com

Our thanks to Joe for providing information on this program for first time home buyers.

Have a great weekend and be sure to have your camera in hand to capture those special moments.  Please share photographs from your favorite places in the comments for this post.

Dahlias at Brookside Gardens IMG_5771

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

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Roy and Dolores Kelley Photographs

Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



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Rainmaker
329,421
Marco Giancola
Realtor (305)608-1922, Miami Beach Florida
Majestic Properties

Hey Roy-always a good thing-I wish they had had that program back in the day when I was a first timer!

January 21, 2012 08:15 AM
Rainmaker
853,891
Wayne Martin
Sales Manager - New Homes & Condominiums Division
Michael Saunders & Company

Roy - these days any help we can get for first time home buyers is a good thing. It is getting more difficult for first timers to enter the market. Enjoy your day!

January 21, 2012 08:18 AM
Rainmaker
1,343,180
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Roy: Excellent overview of the First time Homebuyer Grant program. It's worthwhile for those that qualify.

January 21, 2012 08:20 AM
Rainmaker
1,076,517
Rob Thomas
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954

Roy ....Great info for first time home-buyers!  I'm surprised they include condos ...those have been really hard to get financed recently.

Thanks!

January 21, 2012 08:26 AM
Ambassador
1,242,226
Toni Weidman
23 Years Selling Homes in New Port Richey, FL
Re/Max Sunset Realty

Roy - this IS good information for the first-timers. Thanks for sharing it with us. I'm suggesting.

January 21, 2012 08:47 AM
Rainer
307,045
Jennifer Chiongbian
Real Estate Broker - NYC
Specializing in all types of Manhattan apts & townhouses

That is great info.  Do you know what the cap is for the maximum loan amount for this program?

January 21, 2012 09:23 AM
Rainer
382,179
Brian England
Realtor, MBA, Real Estate in East Valley AZ
Arizona Focus Realty

Sounds like a great program Roy, I am sure this will help out a lot of buyers!

January 21, 2012 09:40 AM
Rainmaker
1,884,777
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Good Saturday morning to all.  I have been shoveling snow on this icy morning in Maryland.  Contact your mortgage lender for details on this program for first time home buyers.

Have an outstanding weekend!

Dahlias at Brookside Gardens IMG_5779

 

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

January 21, 2012 09:43 AM
Ambassador
829,318
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Roy - Great information I didn't see NM on your list.  I'll check it out.  You and Dolores have a great Saturday!

January 21, 2012 10:24 AM
Rainmaker
1,045,489
Robert (Bob) Gilbert
Your Katy TX Real Estate Expert
Berkshire Hathaway HomeServices Anderson Properties

Roy,

Great information for first time home buyers. I was ready to send off your blog to a client I spoke to this week but Texas is not included. Good blog and thanks for passing the information to the public.

January 21, 2012 11:49 AM
Rainmaker
1,884,777
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

This first time home buyer program is an offering by the Federal Home Loan Bank in Atlanta.  Real estate professionals in other regions may wish to check on the availability of similar programs for other states.

Have an outstanding weekend!

Daffodils at Brookside Gardens IMG_2764

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

January 21, 2012 11:55 AM
Rainmaker
706,881
Juli Vosmik
Scottsdale/Cave Creek, AZ real estate 480-710-0739
Dominion Real Estate Partners, LLC, Scottsdale, AZ

Roy, this is great information for first time home buyers in so many states.  Great job getting the information out.  

January 21, 2012 12:13 PM
Rainmaker
1,050,822
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Good Afternoon Roy, This is great infomration that sure will help home buyers. It looks like a great program, i wish they would expand into NH. Have a great Saturday

January 21, 2012 12:37 PM
Rainer
283,114
Keith Gilkey
410-920-7214, Re/Max Chesapeake
Re/Max Chesapeake

Roy, This is valuable information. Thanks for sharing and  have a great day!

January 21, 2012 01:38 PM
Ambassador
611,080
Jeanean and David Gendron
Specializing in Selling Unique Properties
Real Living, Real Estate Professionals

Roy, it is so nice to visit and get flower fixes. Not one but many. They are so beautiful. Lucky First Time Home Buyers get flower also. Have a great weekend.

January 21, 2012 04:35 PM
Rainmaker
472,667
Judith Parker
CRS, GRI, CMRS, Charlotte, NC
ProStead Realty

Hi Roy, I will have to check with my lenders to see if they are aware of this program for it sounds great.  Thanks for sharing.

January 21, 2012 08:02 PM
Ambassador
1,434,186
Jennifer Fivelsdal
Mid Hudson Valley real estate connection
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

Roy an assistance for first time buyers is a great idea.  In my marketplace first time buyers are the once buying houses these days.

January 21, 2012 10:49 PM
Rainmaker
791,263
Al Raymondi
Ormond By The Sea Florida - Home and Condo Sales a
Ocean View Realty Group in Ormond By The Sea Florida

Thanks for getting us the info on this program Roy, I'll be checking with local lenders to see who is participating.

January 22, 2012 08:34 AM
Ambassador
1,724,022
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Palm Harbor & Dunedin FL Residential Real Estate
Charles Rutenberg Realty

Great information indeed, Roy. I have helped people use these first time homebuyer programs as well.

January 22, 2012 10:57 AM
Rainmaker
1,884,777
Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Thanks so much for your comments.  

Have an outstanding week!

Dahlias at Brookside Gardens IMG_5809

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

January 22, 2012 11:16 AM
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