Copyright 2006 - 2014
Homebuyer Assistance Grant Program
The MHSDA Homebuyer Assistance Grant Program is a grant program for the purchase of a single-family, owner occupied, principal residence. If the borrower has had ownership interest in a principal residence in the last three (3) years from the date of purchase, they are not eligible for the program. This program supports non-military and military homebuyers. Military is defined as a member of the U.S. Armed Forces or National Guard and Reserves. Non-military homebuyers are eligible for grants up to $3,000. Active military and veterans are eligible for grants up to $5,000. Neither grant can exceed 25% of the sales price. Lenders can use the grant in conjunction with their own first lien or the grant can be combined with MSHDAs first mortgage and Down Payment Assistance (DPA) program. Lenders must use a waterfall review, i.e. a first lien with MSHDA; apply the grant, then if needed apply the MSHDA DPA. These funds may be used with any loan type.
To read/download the entire Terms and Guidelines document, click here.
To read/download the Frequently Asked Question document, click here.
To read/download the Step-by-Step Instructions document on how to apply for a grant, click here.
This is a great program for those who are first time buyers or who were displaced 3 or more years ago and have not owned a home since. Call me or email me and let’s get started finding you a new home. The money won’t last forever in this program, so check with me to make sure that it is still available..