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There's a lot of excitement that goes into buying a home. While it can take months to find the perfect place, you then have to get your offer accepted by the seller. And then there is financing. That's a whole other ball of wax that could be a simple process or become a big headache. Fortunately for first time home buyers, there are many programs that will provide grant money to help you with that first purchase.

By obtaining a first time home buyer grant, individuals who are purchasing their new home can claim funding to help with their down payment or closing costs. That can end up being a big financial relief, particularly now when banks and lenders are not accepting anything less than a 20 percent down payment. For the first time buyer, who has no equity from a previous home to work with, that's a lot of responsibility.

In addition, first time buyers often underestimate just how much it will cost to purchase their new house. Not only do you need cash for down payment, but closing costs, taxes and other fees can tack on thousands of dollars in unexpected costs.

First time home buyer grant can help with these scenarios and provide a new home owner with instant equity. These grant programs are often provided by local and state government agencies, but more and more lenders and private foundations are offering financial aid for new home owners as well. By applying for these grant programs, the money that is obtained tax-free and with no repayment. That means you never have to worry about paying the money back.

First time buyer grants can be found and applied for by searching a current grants directory. Once you find the money you may qualify to receive, you could have your cash grant in as little as 7 days.