Chat with us, powered by LiveChat

Mortgage Blog

College Grads Could Get Home Buying Help

Several states are offering homeownership assistance programs to recent college grads that may help them receive thousands of dollars toward the purchase of a home. In New York, Gov. Andrew Cuomo recently announced the "Graduate to Homeownership" program, which provides assistance to first-time buyers who have graduated in the past two years from an accredited college or university with an associate's, bachelor's, master's, or doctorate degree. Program participants may be eligible for up to $15,000 in down-payment assistance or a reduced-rate mortgage—but they have to agree to live in one of eight upstate New York communities in order to be eligible.


"Upstate colleges and universities have world-class programs that produce highly skilled graduates, who then leave for opportunities elsewhere," Cuomo said in a statement. "This program will incentivize recent graduates to put down roots."

Nearly half of states offer some form of housing assistance to student-loan borrowers, according to an analysis by Credible.com. Ohio offers Grants for Grads, which, like the New York program, offers down-payment assistance or lower-rate mortgages to people who have graduated from college in the past four years. Rhode Island's Ocean State Grad Grant program offers up to $7,000 in down-payment assistance to college graduates who earned a degree in the past three years.

Many of these state programs, however, require college grads to live in certain cities within the state, similar to New York's program. "It can certainly help people who are dealing with high student debt burdens," says David Reiss, research director for the Center for Urban Business Entrepreneurship at Brooklyn Law School. "But programs like this have to deal with a fundamental issue: Do these communities have enough jobs for recent college graduates? Time will tell."

Source: “College Grads Can Get Home Grants – But There’s a Catch,” realtor.com® (May 5, 2017)

get prequalified
Posted by Jill Kohler on May 9th, 2017 2:24 PM

Pa Company Net Equity Financial offers $500 
Future Entrepreneur Scholarship

College Scholarship

Applicant Eligibility

Applicant must be a U.S. Citizen or Permanent Legal Resident of the United States.

  • Current freshmen, sophomores, juniors, seniors and graduate students
  • Applicant must have a cumulative college grade point average of at least 3.0 on a 4-point scale, and be enrolled full-time at an accredited four-year college or university during the 2017 Fall semester.
  • Must be working towards a degree in one of the following: Business/Marketing/Entrepreneurship

Application Submission and Deadline

Application materials must be received by June 15th, 2017 in order to be considered.
 The following materials should be submitted:

  1. A typed essay (no more than two pages double-spaced) addressing one of the following topics:
  • Describe in detail a small business in your community that you would like to own?
  • Describe a business idea you have that you think would be a great business to build?
  • Describe the traits you think that an entrepreneur must have to be successful and why?                                       
  • Email to: LoanDept@NetEquityLoans.com   Please include all contact information including complete address, phone, email and current school. (Transcripts from your accredited  university not needed to apply but may be requested for the winner)                             

Purpose of Scholarship

To provide financial assistance to a student with an interest in Business/Marketing/Entrepreneurship

Description of Funds

The recipient will receive a one-time $500 scholarship to be applied to qualified expenses including tuition, fees, books, and on-campus room and board for the 2017 Fall Semester. Funds are provided by Net Equity Financial. Payments are issued by Net Equity Financial and made directly payable to the student’s approved college or university and mailed after June 30, 2017 directly to the accredited college or university last designated by the student.

Winner Selection and Announcements

The winner is selected after Net Equity Financial reviews all entries by June 15th,2017. Applicants are judged on creativity, thoughtfulness, and insight. The winner will be announced by June 30th, 2017.

College/University Approval

The institution must be accredited and listed on the official website of the U.S. Dept of Education. Applicants attending military academies are ineligible for this scholarship. All school transfers are subject to accreditation approval.

Responsibilities of Recipients

The recipient must be actively enrolled as a full-time freshman, sophomore, junior, senior, or graduate student in spring 2017 —barring illness, emergency, or military service. It is the recipient’s responsibility to verify receipt of funds with their designated institution and notify Net Equity Financial should the award check not arrive on or about 30 days from the issue date. Net Equity Financial reserves the right to alter or discontinue this program at any time without notice.

Posted by Michael and Jill Kohler on December 6th, 2016 11:50 AM

Archives:

My Favorite Blogs:

Sites That Link to This Blog: