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Channel: Trulia Voices: First Time Homebuyer grant effect debt/income ration?!
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Answer by stephen webber

Hi Malita The Grant may include an interest rate or to be paid down each month. The lender should know what to factor in when you applied for the grant ?? Maybe they are waiting for the agency to...

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Answer by Alan Openshaw

Hello Malita, It is a loan with a repayment schedule just like a car or a credit card Alan

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Answer by Philip J. Cunningham Sr

How about I just cut thought the bull. The grant could be forgiven after a number of years or would have to be paid back if the house changes ownership. The amount to be paid back reduce over the time...

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