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Determine stipulations for receiving CA grants for first time home purchases
I am a first time home buyer in California.
My mortgage broker has told me that I qualify for the California first time home buyer's grant that I will never have to pay back.
This grant is discussed at these websites:
http://www.gsfahome.org/
http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm
http://www.calhfa.ca.gov/homeownership/limits/income/income-moderateFHA.pdf
However I have just heard that there are stipulations and requirements placed upon home owners who receive these grants. I have heard that some people wish that they had never gotten the grants because of the added requirements and that some people who have inadvertently violated some of the terms or conditions of the grant have then had to pay the grants back.
I'm looking for resources or a specialist who will be able to tell me what these stipulations, requirements, and "fine print" are for people who receive these grants.
The main piece of information I am interested in determining is how long I need to live at or own this residence before being able to sell it without having to pay back the grant.
What are some good websites that discuss this or who are some good advisors (such as attorneys) who would be able to provide me with this information?
My mortgage broker has told me that I qualify for the California first time home buyer's grant that I will never have to pay back.
This grant is discussed at these websites:
http://www.gsfahome.org/
http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm
http://www.calhfa.ca.gov/homeownership/limits/income/income-moderateFHA.pdf
However I have just heard that there are stipulations and requirements placed upon home owners who receive these grants. I have heard that some people wish that they had never gotten the grants because of the added requirements and that some people who have inadvertently violated some of the terms or conditions of the grant have then had to pay the grants back.
I'm looking for resources or a specialist who will be able to tell me what these stipulations, requirements, and "fine print" are for people who receive these grants.
The main piece of information I am interested in determining is how long I need to live at or own this residence before being able to sell it without having to pay back the grant.
What are some good websites that discuss this or who are some good advisors (such as attorneys) who would be able to provide me with this information?
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