Everything You Need to Know About the Grant for Grads Program

Central Ohio Real Estate Podcast with Susanne Casey

Have you heard of the Grant for Grads program? Today I’m joined by a special guest who will tell you what you need to know.

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Today I’m joined by a special guest, Noah Brader from Concord Mortgage, who’s going to tell us about a great new program for first-time homebuyers called Grant for Grads.

This program is for first-time buyers who have obtained an associate’s, bachelor’s, master’s, or doctorate degree from the last four years. Those who meet these requirements are eligible for down payment assistance up to 5% on their home purchase.

For example, if a qualified first-time buyer takes advantage of this program for the purchase of a $200,000 home, they could receive up to $10,000 in assistance.

However, there are income limits and you do need to have a credit score above 640.

The great thing about this grant, as opposed to other first-time buyer programs, is that assistance funds are forgivable after five years. In other words, if you own the house for five years, you won’t need to repay the grant funds.

The loan process may take a little longer than normal, but this program is definitely worth it.

It’s important to keep in mind that this loan will add about 10 days to the normal process of closing, but it is certainly worth it.

If you’re interested in this program or have any questions about it, feel free to give Noah a call at [phone] or email him at [email protected].

As always, if you have any other questions for me, feel free to reach out. Give me a call or send me an email. I look forward to hearing from you soon.