Yes. The headline is correct. You may have to dig a little but money, whether it’s federal, state or from other groups, is out there. We’re all looking to save some money or receive extra incentives. There are plenty of ways to tap into some free money. And they are ligitimate. Here are a few of the best ways to grab some of that free money.
Thinking about doing some home improvements to make it more energy efficient? Believe it or not, the federal government will pay 30 percent of the product cost up to $1,500 this year and in 2010. Those items include: windows and doors, roofing, insulation, HVAC, water heaters and biomass stoves. This tax credit is only for existing homes. Other energy tax credits are available at 30 percent of the cost with no upper limit such as: geothermal heat pumps, solar panels and solar water heaters, small wind energy systems and fuel cells. These are offered for existing homes and new construction.
Tax Credit for First-Time Home Buyers
If you are one of the lucky ones out there who are getting in on some great deals on homes, first-time buyers can get an $8,000 tax credit from the federal government. Plus, it doesn’t have to be paid back unless you sell your home within the first three years. But you need to hurry. It expires December 1, 2009!
Incentives from States
Missouri was one of the first to help home buyers with special loans – tax credit advances – and can be up to 6 percent of the home’s price. Colorado has a program called Jumpstart. It’s a credit advance which is a second mortgage at zero percent interest. The Delaware State Housing Agency provides up to $10,000 for a down payment and closing cost assistance. And there are many more with several incentives.
Free Money for Students
With school beginning, you might need to be on the search for scholarships or grants. Check out Salliemae for lots of details. It lists information about Federal grants such as the Pell Grant, National SMART grant and TEACH grant. You can also click on information about state programs and each state is listed with educational resources. To learn more information about scholarships Salliemae also advice on how to snag free money whether it be from businesses, religious groups or professional associations. The website provides a tab that allows you to search a database with more than 3 million scholarships.
So go ahead and spend the time searching. Finding free money is always worth it.