The government of Mobile has been developing and implementing several housing programs to give you the chance to purchase Mobile homes for sale. However, you must remember that you are not the only one applying for these grants so you have to make sure that your application must be very well done. You need to know that there will be a lot of people who can write and apply as well as you.

As mentioned in the previous article, there are two grants offered by the HOME Program to help future Mobile real estate for sale purchasers like you get the chance of home ownership. These are the Down Payment Assistance Grant and the New Construction Affordable Home Loan. Both of these programs also have newly constructed homes available for purchase by qualified homebuyers with up to $30,000 provided as a deferred loan.

To get ahead of anyone who wishes to get a Mobile real estate through the HOME Program, you need learn to research and know more about it. After knowing which information you actually need you are now ready to apply. Listed below are the information you need before submitting your application.

Participants of both programs must have a good enough credit history to obtain a first mortgage on the home of their choice. Credit history will be reviewed by the County government upon application. Participants also must meet income eligibility limits as mentioned in my previous article. DPA Participants must also be able to provide $500 in cash toward the purchase of the home.

You must be a first-time Mobile real estate buyer to participate in the DPA (The Down Payment Assistance Grant) Program unless you are participating in the New Construction of Affordable Homes Program. A first-time homebuyer is a person who has not owned a residence for the past three years, with the exception of single parents who have divorced within the past three years.

As for the NCAHLP (New Construction Affordable Home Loan Program), the homebuyer must also meet residency and income requirements. In addition, the monthly payment of the primary mortgage, including principal interest, cannot exceed 30 percent of gross monthly income. The homebuyer need not be a first-time homebuyer, but need to pay for the following criteria: $5,000 deemed paid after 10 years residency, $5,000 deemed paid after 15 years residency, $10,000 deemed paid after 20 years residency and $10,000 deemed paid after 30 years residency.

If you think the offerings provided by the NCAHLP is not sufficient to finance your new Mobile homes for sale, you can also participate in the Down Payment Assistance grant program at the same time, without qualifying as a first-time homebuyer.

A single-family dwelling unit located in the specified geographic area is eligible for DPA. However, mobile homes, condominiums, town houses, and duplex or multiplex units are not eligible. The purchasing household must occupy the property for five years, or the down payment assistance grant will have to be repaid in full. Properties that are subject to a right of redemption - such as foreclosed homes, homes with tax liens, etc. - are ineligible for the program.

For NCAHLP, the deferred loan may be used to purchase newly constructed homes available through an arrangement between local licensed contractors and the County of Mobile. The homebuyer must occupy the property as a principal residence.