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Wouldn’t it be nice to receive some free money so you can buy a home? Federal, state, and local governments, plus housing foundations and charitable organizations are all great resources that provide grants to homebuyers in need of help.

Why help first-timers? As they tend to be young and still building credit and savings, first-time homebuyers may take years to save enough for a down payment and qualify for a mortgage. The sooner they can buy a home, the sooner they can begin gaining equity and accumulating wealth through real estate. New homeowners are good for their neighborhoods—they provide more tax revenue, and they support local shops and services.

Why help low-income households? Housing prices have shot up so high that many families, whose incomes have not kept up with inflation, also have trouble saving for a down payment on a home.

The National Homebuyers’ Fund awards housing grants up to 5% of a home’s purchase price, either in the form of down payment or closing costs assistance. You don’t have to be a first-time homebuyer to qualify, and credit scores and debt-to-income ratios are flexible whether you’re applying for a conventional loan or a government guaranteed loan through FHA, VA or USDA. Another great source is Governmentgrants.us, which offers a step-by-step application for homebuying assistance.

The biggest benefit is that grants don’t have to be repaid. Housing grants are typically obtained through your mortgage lender. You can also search the Internet for homebuying grants in your city or state.