'Too Good to Be True' 😱Homebuyer Grants
1. Chenoa Fund: Your New BFF
The Details
Serving up to 5% of your purchase price for down payment and closing costs
Comes as a second mortgage (don't worry, it's not as scary as it sounds)
Can disappear like magic after 36 months of on-time payments
Why you'll love it:
It's like having a rich aunt who's willing to front you some cash, except you don't have to send her a Christmas gift in return.
2. Fannie Mae HomeReady: For the Overachievers
The Details
Get up to 3% for a down payment
Reduced mortgage insurance premiums (more money in your pocket)
Allows non-occupant co-borrowers (bring your family or friends in on the deal)
Requires a homeownership education course (knowledge is power, honey)
Why you'll love it:
It's like the honor roll program of mortgages. You put in a little extra effort, and you get rewarded for it.
3. National Homebuyers Fund: The Equal Opportunity Helper
The Details
Grants up to 5% of your loan amount
Use it for down payment OR closing costs (flexibility, we love to see it!)
Available no matter which state you call home
Not just for first-time buyers (because second time's a charm too)
Why you'll love it:
It's like finding money in your coat pocket, but way better and with a lot more zeros.