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The new bill passed by Senate earlier in the year allows states to trade in a portion of their 2009 low-income housing tax credits for Treasury Grants.  These grants would be used to finance the construction, or purchase and rehab of low-income housing, including those with or without tax credit allocations.

The low housing grants will include funding for the following causes:

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Question by barrgains: Low income first time home buyer grants?
I’m trying to buy a home in sullivan county new york. I feel like I am being given the run around. Everytime I find a house something changes, I looked at a house for 150k mortgage was supposed to be around 1300 a month, I decided that was a little high so I came down to 130k home mortgage still going to be 1200 a month, dropped down to 99k mortgage is going to be 1100 a month, closing costs are going to run 10k? The bank offered me a 6% seller concession but say I am still going to need 6 to 7 thousand dollars? The real estate agent told me to look into grants for low income or first time home buyer. We are a family of 4 (2 adults 2 kids) and income is about 37k, I however plan to go back to work once we move, right now we live in income based housing and it doesn’t pay for me to work, just more to pay to them. I am really at a loss her and need to know what’s going on, none of this makes sense to me and with things always changing, my interest rate has gone from 6 to 6.75% Y?

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