Americans may be eligible for a one-time payment of up to $10,000

• Good news for thousands of Georgia home buyers.
• Find out who is eligible for a direct payment up to $10,000.
• The Vine City Renaissance Initiative is offering grants.

Georgia home buyers could be eligible for a generous one-time payment up to $10,000. Who will qualify for this benefit? We’re giving you the details.

People looking to buy a home in Georgia could get some financial assistance. The Vine City Renaissance Initiative is offering up to $10,000 in the form of a forgivable grant — a great opportunity for thousands, according to The Sun.

Georgia home buyers could qualify for a one-time payment of up to $10,000

The money will go toward a down payment and/or closing costs if funds allow, according to Invest Atlanta. Borrowers must plan to stay in the home for at least five years to qualify. That is when the grant is forgiven.

This incentive can also be used with a home renovation mortgage loan. Participants must be able to qualify for a 30-year fixed-rate or conventional home loan and attend a renovation education course.

Who will benefit?

Only homes within Vine City, which is in Atlanta, will qualify for the incentive. Detached single-family homes, two- to four-unit townhomes, condominiums, and newly constructed properties will be eligible.

There is no price limit for the property to qualify, but the following income limits apply: Single-person household $94,500, Two-person household $108,080, Three-person household $121,520, Four-person household $134,800, and Five-person household, $145,880. It is also important to note that there is a $1,000 program fee. 

Montana residents can also receive rebates

Meanwhile, in Montana, residents could receive up to $2,000 in property tax rebates. The payments would be financed by the state surplus of $2.4 billion, according to The Sun.

If approved, this would be the largest state-administered tax rebate in the country, according to the governor. In New Jersey, the Affordable NJ Communities for Homeowners & Renters (ANCHOR) program offers more than 1.2 million residents up to $1,500.

Every state has different rebates

Ultimately, homeowners will receive the full amount, while renters will see payments of $450. The deadline for the program is extended until February 28, 2023 and the requests can be submitted online, by phone or by mail.

It is important that you check the deadline to request payments between $300 and $1,400. In addition, you may want to look at the rebates each state offers for purchasing electric vehicles, as well as other benefits.