Things to Know About Biden's First-Time Home Buyer Grant Program


The Biden administration has proposed a $25,000 First Time Home Buyer Grant to assist qualifying buyers in becoming homeowners.

The grant addresses a related campaign promise made by the Biden administration: to provide Americans with direct financial assistance to help them purchase quality housing.


The best thing is that it is not a tax credit. For renters who have struggled to take the first step toward homeownership, a new era will begin with the passing of this bill.

Things to Know About the Biden First Time Home Buyer Grant Program

1. The Importance of This Grant for First Time Home Buyers

The program lowers property prices for low-income buyers and encourages long-term homeownership.

2. Criteria to Qualify for the Down Payment Toward Equity Act, 2021

The parents/legal guardians of home buyers must have never owned a home during their lifetime.

3. How Does the Down Payment Equity Act Work?

It is a one-time cash payment offered to qualified buyers at closing that is applied directly to the purchase transaction.

Swipe up now to read the full post!