pricespector

I bought my first house that had a grant awarded to it in the amount of $20,000. The grant was income-based (not to exceed 80% of the county median income) and was only available for first time buyers only at the time. There was a stipulation that the home had to serve as a primary residence for at least 10 years and if rented out or sold, the grant would have to be paid back with the proceeds. It had a vesting scheduled that eliminated the amount to be paid back by $4000 every year after the fifth year.

The Federal Government does little in the way of grants, and they are usually administered on the County level. I just checked our county governemnt website to see if they still exist because it has been many years since the original purchase. The grants are now issued by the County in the amount of $25000, but have specific towns/communities listed as eligible.

So to answer your question...yes, they do in fact exist.