Many different housing grants are available for those who qualify, depending in some cases on your income, the location of the house, whether you need help with the down payment or help with rent payments. There are even grants for improving the condition of a home that you already own providing it is in a blighted area.
Here are some of the most accessible housing grants available.
- Housing and Urban Development Grants. These are federal grants that are issued through the department of Housing and Urban Development (HUD). HUD offers more than one type of grant. Some grant money is distributed to qualifying agencies, so that they can help people who need assistance with their rent, provided those clients meet certain income guidelines. These funds are administered by the Office of Fair Housing and Equal Opportunity. Another form of help is extended to homeowners who are struggling with their monthly payments, especially those whose high interest rates are burdensome. There are also grants for homeowners who have kept up with their house payments but do not qualify to refinance because their home has decreased in value.
- Down Payment Grants. These grants are available to help first time home buyers with their down payments and closing costs. They have liberal requirements, no income guidelines, no out-of-pocket costs to be shelled out at the last minute, and generally fast approval. You can find down payment grant information at http://www.housingassistance.com
- Transitional Housing Grants. These grants are for individuals who are victims of domestic violence, dating violence, stalking, or sexual, and have entered programs to recover from these difficulties. These funds are distributed to agencies that help these victims to move from transitional housing into permanent housing, including relocation costs and any other expenses incurred. They can be found at www.ovw.usdoj.gov/
- Housing Preservation Grant. These grants are designed to help homeowners, landlords, or cooperative members with repairs to homes or buildings that they already own. These funds are distributed through the United States Department of Agriculture (USDA) and HUD. The homes must be in low income or very low income housing, or in areas where there is a great concentration of need. The funds are to be used to either repair the building or completely rehabilitate neighborhoods.
Grants are available for first time home buyers, low income households, people with bad credit, people who need help with rent payments, people who need down payment help, or low income homeowners who need help with renovations and repairs. If you fall under one of those categories, you might be eligible for a housing grant.