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Grant Programs For Housing

Housing grant programs provide direct help to families who are struggling to avoid foreclosure or to own their first home. Here are some programs designed to help families fighting to afford decent housing.

Getting Started
Grant programs help low-income families who are either trying to keep their homes or trying to buy their first home. These grants extend beyond just federally owned and operated programs: Many states have programs for low-income families, and some programs exist specifically to help minorities and women.

The housing market crash of 2008 had a devastating impact on lower income homeowners. Careless and sometimes predatory lenders allowed buyers to take on loans they simply couldn't afford, and when housing prices plunged, many were left owing more than their homes were worth and paying punitive interest rates on crippling debts. Middle and higher income families were able to survive the crash, but many low-income families who hopped into the market during the height of the housing bubble faced the prospect of losing their homes in humiliating foreclosures or struggling to pay enormous debts. Buyers entering the market after the crash face strict lending criteria and daunting requirements. Both conditions leave many families struggling with unreasonable housing costs. Housing grants can provide crucial assistance to the families that face these challenges.

Federal Housing Programs
The federal government is the first stop for anyone seeking information about housing assistance. The U.S. Department of Housing and Urban Development (HUD) website provides key information for grant seekers. You’ll find detailed explanations of the types of programs that are available, the process for obtaining the monetary assistance, and even examples of good applications.

Grants through HUD are dependent upon what funding the department has available. The department will issue a Notice of Funding Availability on their website and identifies which awards they have available for the year. Each program offers an application window, during which all applicants that meet the criteria are encouraged to apply.

Most of HUD's grants are for municipalities and larger businesses who seek to build low-income housing. To help navigate through the sometimes confusing information, HUD provides a useful website designed to answer questions for individuals: Resources for Individuals.

Additional Information from HUD
Local Homebuyer Programs. This page from HUD provides links for local homebuyer assistance programs available in every state. For more info, click here.

Housing Counseling. HUD requires anyone receiving a housing grant to take counseling classes. This link provides information on where you can locate a class near you. Visit now by clicking here.

First Time Home Buyers Information. This page helps new home buyers go through the steps of buying their first house. To learn more, click here.

Federal Housing Administration Information. The Federal Housing Administration helps low-income families get into homes, and helps subsidize the cost of getting a mortgage. If you are attempting to avoid foreclosure, the FHA also has programs to help keep you in your house. For more information, click here.

Check the website for even more opportunities. HUD's federal government branch rarely provides grants directly to individuals for buying a home. Those seeking home buying assistance will want to check their state-managed HUD website. Those who are still looking for federally managed home assistance programs should check the website.

Section 8 Housing Voucher applications. Housing vouchers provide low-income families with money to help subsidize the cost of rent. Not every apartment complex or rental property will accept Section 8 housing vouchers. It is up to individuals to determine whether the rental property they are seeking to occupy will accept these vouchers. For more information, click here.