Do any of you ladies know if there are any grants or anything out there for first time home buyers? TIA!!
Have any of you heard anything about the star redemption program being done away with?
Posted by geegee827
Posted by smrsun
Posted by geegee827
The Town of Babylon is doing something for first time homeowners. There is an income limit though and unfortunately, FH and I make too much.
You can check it out on the Town of Babylon's website.
It is such a great deal. I think they contribute $15k towards your down payment or something.
FH and I are over the limit so we don't qualify which is ridic. The only way around is if I apply before we get married based on 1 salary.
We thought of doing that too. We'd have to use FH's salary alone because mine is over the limit, but he wouldn't qualify for the mortgage on his own. Also, note that the house cannot be more than $380,000!
Posted by FuTuRe MrS MaZz
Posted by geegee827
Posted by smrsun
Posted by geegee827
The Town of Babylon is doing something for first time homeowners. There is an income limit though and unfortunately, FH and I make too much.
You can check it out on the Town of Babylon's website.
It is such a great deal. I think they contribute $15k towards your down payment or something.
FH and I are over the limit so we don't qualify which is ridic. The only way around is if I apply before we get married based on 1 salary.
We thought of doing that too. We'd have to use FH's salary alone because mine is over the limit, but he wouldn't qualify for the mortgage on his own. Also, note that the house cannot be more than $380,000!
we're going to put in an app for the 15k ... with me not working, we do fit into the brackets.... i know it said it includes condos, townhouses, coops but this may seem stupid but it doesnt specifically say a reg house... can anyone clear this up?
Posted by geegee827
Yes, it's for single-family houses, condos, townhouses and co-ops.
Good luck!
we actually got it in our taxes this year. We got back $7500 for the first time home buyers credit BUT, yes there is a but lol, its a loan, not free money. The good news is that you pay it back every tax season $400 is deducted out of your tax return so you never actually write a check to the government. If you do sell your house before it is paid off, then you have to pay it back but it is interest free which is great!
Posted by FutureMrsPD
we actually got it in our taxes this year. We got back $7500 for the first time home buyers credit BUT, yes there is a but lol, its a loan, not free money. The good news is that you pay it back every tax season $400 is deducted out of your tax return so you never actually write a check to the government. If you do sell your house before it is paid off, then you have to pay it back but it is interest free which is great!
