This is a common question that home owners have when selling their home. The simple answer to this question is, YES, a purchase offer with home buyer grants can be a very strong offer. There are several reasons why buyers who are receiving a home buyer grant or incentive maybe a very strong candidate to buy a home. One huge reason is that many of the grant programs have very strict requirements and rules. There are several other reasons as well as home buyer grant programs that home owners should be aware of when selling their home. In this article I've addressed many reasons why accepting a purchase offer with home buyer grants is a good idea and also what the most common grants and incentives are! Check it out at http://www.rochesterrealestateblog.com/should-i-accept-a-purchase-offer-with-home-buyer-grants/

1. rochesterrealestateblog.com http://www.rochesterrealestateblog.com/should-i-accept-a-purchase-offer-with-home-buyer-grants/
Should I Accept A Purchase Offer With Home Buyer Grants?
Should I Accept A Purchase Offer With Home Buyer Grants?
One of the biggest challenges that
comes of selling a home is getting a
ready, willing, and able buyer to
actually submit a purchase offer.
Once a purchase offer is received,
it’s now time to review the purchase
offer with your Realtor.
One of the most frequently asked
question from home sellers relates to
the terms and conditions of a
purchase offer. More specifically, a
common question is, “Should I
Accept A Purchase Offer With
Home Buyer Grants?”
The answer to this popular question
is YES, you should accept a
purchase offer that has home buyer
grants, for many reasons. There are
many home buyer grants available to
not only first time home buyers but
also programs that are available to
repeat home buyers.
In this article, I will give several
reasons why accepting a purchase
offer with home buyer grants is a
good idea as well as provide a recap
on some of the most popular home
buyer grants. After reading this
article, you will also agree that
accepting a purchase offer with
home buyer grants is a good idea!
What Are Home Buyer Grants?
There are many different home
buyer grants and they can vary
significantly from city to city,
however, the concept of home buyer
grants is the same. A home buyer grant is some form of concession or credit given to a buyer to help offset the costs
associated with buying a home. Many home buyer grants have strict requirements, income limitations, as well as
education requirements.
Why Should I Accept A Purchase Offer With Home Buyer Grants?

2. Home Buyer Grants & Programs Are Not For Weak Home Buyers
Home Buyer Grants Are Not Given To Everyone
One of the most popular misconceptions about home buyer grants is that they are given to every single applicant.
This is actually a very common real estate myth about home buyer grants and quite the opposite in reality.
When a potential buyer applies for a home buyer grant, they are asked for many of the same documents that they will
be asked for when getting pre-approved for a mortgage. Many home buyer grant programs require the applicant to
provide proof of income through tax returns and proof of stable employment. This is a great reason why accepting a
purchase offer with a home buyer grant is good idea.
Home Buyer Grants Allow The Buyer The Ability To Purchase A Home
Since buying a home is not cheap, home buyer grants are becoming more and more popular. Purchasing a
$100,000 home, depending on the real estate taxes and the mortgage program, will cost a buyer between $8,000 –
$12,000.
Many home owners who are selling their home don’t understand why they should accept a purchase offer with home
buyer grants. This is similar to home owners having a problem accepting an offer from a buyer who is in need of
seller concessions.
One of the most important reasons why it’s a good idea to accept an offer with home buyer grants is because a home
buyer grant gives a home buyer the ability to purchase a home. Some sellers don’t understand that a mortgage does
not cover all of the closing expenses for a home buyer. They neglect to remember that a home buyer is responsible
for more than just a small down payment on a home.
Home buyer grants allow a buyer who may not have all of the money required to buy a home actually buy a home.
Home Buyer Grants Show Dedication From The Home Buyer
Every home buyer grant has
different requirements and minimum
qualifications. A good
reason to accept an offer with home
buyer grants is the fact that many
home buyer grant programs require
such strict requirements and
qualifications.
Many home buyer grants require a
buyer to have extremely strong credit
scores, in excess of 650-700! A
buyer who has a credit score of 700+
is normally a very dedicated and
responsible person, which is a great
reason to accept their offer even with
a home buyer grant contingency.
In addition to the fact that home
buyer grant programs have such
high requirements for credit scores,
many of them also require education
classes to be taken. A home buyer
that has been educated on the home

3. buying process, has done their
research on what tips and tricks they
should follow when buying a home,
and one who understands what to
expect when buying a home is in
most cases going to be much easier
to deal with throughout the
transaction.
An Offer With Home Buyer Grants
Is Better Than No Offer
Finding a ready, willing, and able
home buyer is not always the easiest
task. When selling a home, you
need to understand that it doesn’t
always happen the first day on the
market or even the first month.
There is no possible way to predict
how long it will take a home to sell.
“Something is better than nothing,”
this basic statement is yet another
reason why accepting an offer with a
home buyer grant contingency is a
good idea. Even though many home
buyer grant programs may take a
few extra weeks to close, having an
offer from a buyer is better than not
having anything.
Remember when deciding whether
you should take an offer with a home
buyer grant contingency that if you
have not received any other offers or
have not been having showings at
your home, you should
strongly consider taking the offer
even though there is a home buyer
grant contingency.
What Are The Most Popular & Common Home Buyer Grants?
Below are some of the most popular home buyer grants that are available to home buyers nationwide as well as
some popular Rochester, NY home buyer grant programs and incentives. If you receive a purchase offer with a
home buyer grant contingency, it’s possible you may see one of the following home buyer grant programs.
First Home Club
The First Home Club is a program that is available in a few different states through several different lenders. The
First Home Club is established through Federal Home Loan Bank of NY (FHLBNY). This club requires that a home
buyer makes monthly deposits into a savings account with the end goal of accumulating roughly $1,900 within a 10-

4. The Most Common & Popular Home Buyer Grants & Programs
24 month period.
Once a buyer is able to save the
required amount of money, the
Federal Home Loan Bank of NY will
provide a buyer a grant to use
towards their closing expenses. The
FHLBNY matches $4.00 to $1.00 up
to $1,875, which equates out to a
home buyer grant of $7,500 for the
First Home Club member.
This home buyer club is available to
first time home buyers as well as
persons who have not owned a
home within the last 3 years, single
parents, or displaced homemakers.
Since this program requires a
minimum time involvement of 10
months, it can sometimes be a great
option for those home buyers who
are not in an immediate rush to
purchase a home.
Local Home Buyer Grants &
Incentives
Home Purchase Assistance
Program (HPAP)
One of the most popular Rochester,
NY home buyer grant programs is
the Home Purchase Assistance
Program, also known as HPAP. This
program is governed by the City of
Rochester and is available for home
buyers purchasing a single family or
two family home within the City of
Rochester.
This program requires a minimum
buyer contribution of $1,500 and provides a buyer up to $3,000 to use towards their down payment and closing costs.
This home buyer grant program, like many, require the home buyer to attend a pre-purchase education class as well
a post purchase education class. The HPAP grant also requires a very brief inspection by a City of Rochester
inspector who is primarily looking to ensure the home has smoke detectors and carbon monoxide detectors in place,
prior to closing.
This home buyer grant program requires the home buyer to stay in the home for 5 years, otherwise, the buyer maybe
subject to paying a prorated amount back to the City of Rochester. This program is a very popular program for those
who are looking to purchase a home with little or no money down as it requires a very small contribution from the
buyer.

5. SONYMA Programs & Grants
Through the State of New York Mortgage Agency , also known as SONYMA, there are several home buyer grant
programs and incentives for New York residents. There are SONYMA programs available for low income earners,
veteran home buyers, home buyers looking for a “fixer-upper,” and also loans available to assist home buyers with
the down payment.
SONYMA mortgage products are a great option for not only Rochester, NY home buyers, but also for other home
buyers who reside in New York.
Final Thoughts
When you set out to sell your home and finally receive a purchase offer on your home, remember, accepting an offer
with a home buyer grant can be a good idea. It’s important that when interviewing prospective Realtors to sell your
home, you ask them if they have experience dealing with home buyer grant programs. The reason this is important
is because more and more home buyers are needing the assistance from grants and incentive programs.
A Realtor who has experience with dealing with home buyer grant programs should know what type of questions to
ask the buyers agent or the buyer themselves. Overall, home buyer grant programs are a great thing for the real
estate market. They allow home sellers like yourself to sell your home and allow home buyers the ability to purchase
a home.
Other Top Home Selling Resources
Small Down Payment Doesn’t Mean The Buyer Is Not Qualified via Maximum Real Estate Exposure
Top Home Features That Today’s Home Buyers Want via Rochester’s Real Estate Blog
10 Critical Steps To Take Before Listing Your House For Sale via Great Colorado Homes
Real Estate Resources For Sellers via Bundlr
Top 10 Mistakes Made By Sellers When Choosing A Realtor via Rochester’s Real Estate Blog
If you’re considering the sale of your Rochester, NY home, you must be aware that the probability of receiving a
purchase offer with a home buyer grant contingency is possible. Having a strong understand of why it’s a good idea
to accept a purchase offer with a home buyer grant is critical as well as understanding what the most common grant
programs are. If you have not chosen a Rochester, NY Realtor, contact me and I’d be happy to explain many of the
most common home buyer grant programs in Rochester, NY.
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About the authors: The above article “Should I Accept A Purchase Offer With Home Buyer Grants?” was
provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re
thinking of selling or buying, we’d love to share our knowledge and expertise.
We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton,
Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush,
Honeoye Falls, Chili, and Victor NY.
Visit our website at www.HiscockHomes.com.
© 2015, Kyle Hiscock. All rights reserved.