Free Money – Get It While It Lasts

0Written by Ennise Williams – Realtor

If you are in the market to buy a home, you may be asking yourself: am I actually spending more on rent than I would for a mortgage? Is my credit score high enough to qualify for a home loan? Will that prior foreclosure hinder me from buying again now? Who’s going to win the presidential election in November? Wait! The presidential election? What does that have to do with buying a house?

Well – regarding an incredible federal grant program available to many consumers – who wins the White House has everything to do with it.

As rent prices steadily increase, and while interest rates are relatively low, now is a better time than any to buy a home. And one need not be a first-time homeowner to take advantage of this grant program. But time is definitely of the essence. The Home in 5 Down Payment Assistance program essentially offers up to $15,000 in free grant money to cover the cost of your down payment on the purchase of a home. Yes – free! These funds are not a loan, and they do not need to be paid back…ever!

However, these funds are not guaranteed indefinitely, and once they run out, the program may come to an end. Especially in the midst of this presidential election year, the future is highly uncertain regarding just when this federal grant program will go away. Depending on who wins the White House, one party or the other may decide to raise interest rates or completely do away with such federal grant programs surrounding home ownership.

So what that means for consumers is that you need to take advantage of this opportunity now while funds are still available. Many consumers remain unaware of how easily they may be able to qualify for this program. Some of the requirements include: an income of less than $88,000 per year; a minimum credit score of 620; a target home purchase price of under $300,000. Also, past homeowners with prior foreclosures are still eligible.

Working with a knowledgeable and qualified lender and licensed realtor can help move you forward to realizing your dreams of homeownership, and find the program and home that’s right for you. I welcome you to connect with me so that I may share more information with you on how homeownership is absolutely attainable for you! Knowledge is power in our community and I am here to help!

Ennise Williams is a licensed Realtor® in Arizona, having served buyers and sellers in the Phoenix metro area since 2004. Ennise can be reached at 480-239-1321, or email:

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