Newsflash: FTHB was planning on using grant money to help with downpayment and closing costs, grant ran out and bank can’t refill til end of July/August. Advice needed.

Like the title says. We had applied for a $5000 grant for our home purchase. It was in a first come first serve basis. You needed to have an accepted offer to actually get it.Grant ran out before we could find a house. My lender told me what she has been told is that they need to close on the loans that are using the last of the grant money in order to refill it. They only use these funds for FTHB with FHA or USDA loans. So my wait could easily take me past July.I have looked into 2 other local lenders about what programs they offer for FTHB in regards to grants. They each have options. But I know one of them doesn’t have as much($3000) and the other I’m meeting this morning to see exactly what they offer.Should I just ditch my first lender? Should I just get approved from one of these other 2 lenders while I wait on my bank? I’d hate to just wait for a month and watch houses to come on market and sell while we are sitting and waiting.Any advice is welcome! Thanks!

Read more at https://www.reddit.com/r/RealEstate/comments/6iljwc/fthb_was_planning_on_using_grant_money_to_help/?utm_source=ifttt

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