GRANT MONEY AVAILABLE FOR FIRST TIME HOMEBUYERS

Golden Belt Bank, FSA of Ellis and Hays has $50,000.00 in grant money for first-time homebuyers through the Federal Home Loan Bank of Topeka Rural First-Time Homebuyer Program.  The money is available on a first-come, first-serve basis to any applicant who qualifies.   

To receive the money each buyer must first meet the qualifications of a first-time homebuyer.  This means that the buyer must not have owned a home in the previous three years, or is considered a displaced homemaker.  Then the applicant must meet the income guidelines, provide at least $500 toward the purchase, and attend a first-time homebuyer education class, which is offered by Golden Belt Bank.  The homebuyer must live in the property for at least five years to avoid repayment. 

The grants of up to $4000 can be used for down payment, closing costs, or rehabilitation of the home.  The closing costs and rates offered will be the same as other mortgage programs, with the fixed and adjustable loans available, and 100% LTV.