Kalen Raynor, Real Estate Broker, Owner (Ponquogue Point Properties Inc.)

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Rainmaker
3,985,831
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I personally don't like these programs as it puts people into homes that really can't affoard one.

Mar 08, 2017 08:32 PM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Contact your local lenders and check with your state to see if they have some bond issues and grants. Also local governments sometimes sponsor these.

Mar 08, 2017 07:20 PM
Ambassador
5,324,720
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Raymond E. Camp or Brenda Mayette may know.

 

Mar 08, 2017 05:01 PM
Ambassador
4,171,819
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I would ask one of your local lenders - I think there is a federal program that I heard last week has already provided 1/2 of their allotted grants for the year - it's a $15K DPA.  Good luck!

Mar 08, 2017 06:54 PM
Ambassador
2,559,590
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  ActiveRainers from NY will have answers.

Mar 08, 2017 05:23 PM
Rainmaker
1,828,820
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I do not, sorry.

Mar 12, 2017 06:16 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kalen Raynor - no idea about NY - however, few good suggestions in the answers here.

Good Luck.

Mar 08, 2017 10:31 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

Perhaps an NY agent can help you.

Mar 08, 2017 10:17 PM
Ambassador
4,540,411
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Bob Crane has a good suggestion. Also you could check with Mitchell J Hall . And talk to a lender or two

Mar 08, 2017 09:17 PM
Rainmaker
872,241
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Kalen - Not familiar with New York first time home buyer programs. I would try reaching out to AR agents in New York.

Mar 08, 2017 05:50 PM
Rainmaker
4,162,557
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I'm sure Brenda Mayette will have an answer for you!

Mar 08, 2017 05:24 PM
Rainmaker
4,015,199
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sorry, not familiar with NY, but you could ask some top lenders. They usually are in the know.

Mar 08, 2017 05:22 PM
Rainmaker
5,485,542
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kalen,

I agree with Bob Crane 's suggestion.  Best of luck to you.  A

Mar 08, 2017 05:17 PM
Rainmaker
654,907
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

I don't ..sorry...but your local lenders may have the answer

Mar 14, 2017 09:52 AM
Rainmaker
758,126
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I have info about a couple of programs within the Capital Region... looks like you're further south though.  Appreciate everyone thinking of me for the answer! ;)

Mar 12, 2017 08:10 PM
Rainer
8,570
Kalen Raynor
Ponquogue Point Properties Inc. - Hampton Bays, NY
Real Estate Broker, Owner

Thank you all for your answers.  I was aware of many of these programs that you mentioned above.  I do disagree with some of the answers saying that grant money will put people in houses that can not afford.  I think that in my particular area, it is actually more expensive to rent a house then own one, but the major problem is that the closing costs are astronomical.  In my area, most of the time closing costs are around $20,000 and that is just closing costs, not the deposit.  So, I was hoping to find some assistance for those costs for some of my clients.  What I have found is many of them have low income limits and will not apply because a first time home buyer in my area will have to get a home for at least $350,000 most of the time, and to afford that they must have a decent salary that will not allow them to get the grants.  It's a catch 22.  What are the closing costs in your areas?

Mar 10, 2017 08:35 AM
Rainmaker
808,797
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

I hope you found some good info!  Local trusted mortgage loan officers would be great help with this. -Kasey

Mar 09, 2017 09:54 PM
Ambassador
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I'm not in NJ, but you've come to the right place to ask your question. 

Mar 09, 2017 07:00 PM
Rainer
179,915
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

Closing cost assistance program (Niagara Falls), Employer assisted housing Initiative (Rochester), First time homebuyer program(Buffalo), HomeHeadquarters( Syracuse), Home purchase assistance program(Rochester), Housing assistance program of Essex County, West side NHS down payment & closing cost assistance (Buffalo). 

There is new program coming in mid of March  FHLBC down payment Plus for all the States. 

Mar 09, 2017 11:53 AM
Rainmaker
1,393,413
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

 Good morning Kalen,

Check with the local banks; they will know better as they work with the cities. 

Here the city of Rochester has some and The University of Rochester has one for employess but very restictive in area.

I have heard of the state maybe doing something with vacant homes a few months ago.

Good luck. Make yourself an astonishing day.

Mar 09, 2017 11:23 AM
Rainmaker
1,375,627
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'd suggest the local lenders or the state board of realtors.

Mar 09, 2017 10:12 AM
Rainmaker
604,795
Mitchell J Hall
Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

Sorry I can't help. I'm in NY Manhattan and Brooklyn. I'd check with lenders. My first time buyers either qualify on their own or get grants (gifts)  from their parents. Government or lender grant programs rarely apply to NYC/Manhattan housing since most buildings that first time buyers can afford are coops that have their own financial requirements such as minimum down payment (10-25%) cash flow, post closing liquidity and debt to income ratio no more than 25-30%. 

Mar 09, 2017 10:01 AM
Rainer
1,065
sessing anderson
EXIT Realty Achieve - Smithtown, NY
Real estate agent serving Suffolk/Nassau County

Have you looked into NYSAR that offers 2k grants 4x/yr?

Mar 09, 2017 09:49 AM
Rainmaker
609,166
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I say "beware of the buyer that cannot buy without getting "free money"...aka grant money.

I have found that getting someone with no money to closing is not fun.   Every home deficiency they want the seller to fix, and any problem is a deal killer.  Somehow, they expect everything to be taken care of for them.

If there is an extreme hardship case due to things that cannot be controlled, I am sympathetic.  That however, is not the case for most buyers wanting a grant.

To those I say...get a 2nd and 3rd job.

Eve

Mar 09, 2017 09:11 AM
Rainmaker
3,941,604
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Check with your local lenders, they should know

 

Mar 09, 2017 08:44 AM
Rainmaker
4,121,857
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No clue in your area! Sorry. Good luck!

Mar 09, 2017 08:39 AM
Rainmaker
1,205,688
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Most of our grants ran dry here, those were in force during the Great Depreciation.

Mar 09, 2017 07:54 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I would be checking with New York lenders. Great lenders will know about the various programs available. 

Mar 09, 2017 07:53 AM
Rainmaker
5,571,077
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I'm sure you'll find the answer here ....

Mar 09, 2017 07:47 AM
Rainmaker
1,632,642
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

As others have written already. Florida had a similar program years ago and few were aware of it. Good luck!

Mar 09, 2017 06:36 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sorry, I can't help.

Mar 09, 2017 06:24 AM
Rainmaker
3,315,838
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I think the best place to start would be a local and trusted loan officer who would have an up to date list

Mar 09, 2017 05:36 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Debbie Reynolds nailed this one!

Mar 09, 2017 04:58 AM
Rainmaker
1,711,437
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

There are lots of things floating around for buyers. Get online, reach out to other LO's.

Mar 09, 2017 04:58 AM
Ambassador
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Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

ask your mortgage professional

Mar 09, 2017 04:49 AM
Rainmaker
6,497,359
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Talk with your trusted mortgage loan officers.

Mar 09, 2017 04:36 AM