Visit the U.S. Housing and Urban Development site to see if you qualify for one of several funding programs for home buyers. The Good Neighbor Next Door program, formerly the Teacher/Officer/Firefighter Next Door program, offers a grant of up to 50 percent of the list price of a home in return for living in the property for at least 36 months, or three years.
If you are a public housing resident, you might qualify for the Public Housing Homeownership Program, where you receive a voucher to purchase all or a portion of your public housing unit. Native Americans may qualify for a grant under HUDs Public & Indian Housing Program.
Check to see what your state offers if you are a first-time home buyer. Each state has its own first-time home buyer program. The state of Georgia for example, has a program that covers a down payment and closing costs through its Georgia Dream Homeownership Program, providing $14,000 to eligible borrowers who purchase foreclosed properties in eligible areas. Most state have similar programs for first-time homeowners.
Evaluate all of the grant options offered through your state and through HUD, and decide which you qualify for.
Download the application for the program that best fits your needs and qualifications. Begin the application process by filling out the application completely. Have all corresponding information handy-- your bank's approval of mortgage note, income verification, credit report, and anything else required to complete it.
Start shopping for a home. Remember to stay within the funding parameters of what your bank qualified you for, and then deduct what you may receive in an additional grant upon your application's approval.