Can you stack 1st time buyer grants? (loan, loan, property)

[madison999]

Generally speaking, can you stack them like college scholarships?

[abbyme24]

Not sure about conventional, but for FHA yes you can but only if a) the grant programs allow you to stack and b) the total of the grants plus your loan does not total more than 105% of the value of the house.

For example (FHA 3.5%):

$200,000 purchase price
$196,400 loan amount (96.5% plus the UFMIP)

Assuming the house appraised at $200,000 the total grant you could use is (200,000 * 1.05) - 196,400 =
$13,600.

[MsVulcan500]

I haven't seen a grant program that allows you to stack.

[SmartMoney]

Even though the awards are grants, they are soft seconds, meaning there is a recorded lien against the property. This is to prevent abuse. Forgiveness is typically tied to how long you reside in the home as your primary residence. No loan program I know of will allow for 3 liens against a home. There may be true grants, somewhere that allow stacking, but I've never heard of any.