Since home sales in our county haven't bounced back quite as well as we hoped, the state created a great incentive for first-time home buyers: a $15,000 grant.
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I wanted to make sure you knew about the $15,000 grant we have coming to our county for first-time home buyers.
We created an incentive a few years ago because, unfortunately home sales haven't bounced back in our county. For that reason, the state came up with this unbelievable incentive for first-time home buyers — $15,000 in free money!
Now, there are a few strings attached. You have to have a credit score of 640 or higher and the house you're buying has to cost less than $240,000 (that's a great home in Guilford County). There are some income restrictions as well. If it's one to two people living in the house, your combined income has to be $59,000 or below, and if there are three or more people in the home, it has to be $67,000 or below.
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Outside of that, there are very few restrictions. It's basically a grant that's given to you if you stay in the home for five years or more. It's 0% interest and you don't pay anything back on that particular loan.
Our state created this incentive to help our county bounce back.
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If you or someone you know could use $15,000 to buy their first home, give me a call for more information. I think this is a really great thing for the economy here in Guilford County.
