Housing Grant Programs

Some families struggle to stay away from foreclosure while others struggle to even become first time home buyers. There are government funded housing grant programs to provide assistance to families struggling to pay for adequate housing.

Back History

When the housing market crashed back in 2008, the impact on low income earners was incredibly damaging. Predatory lenders gave many people loans that they simply could not handle.  After the crash, many of these low income individuals ran into a series of problems as in many cases, they had to pay back more than double what their houses were worth.  And that’s not even including the interests. Blame financial irresponsibility or blame predatory lending, both sides can be perceived as sharing fault.  Though a large percentage of middle and high income families were able to ride out the crisis, the bulk of low income families were faced with stacked odds and damning debts.  Since the crash, predatory lending has only risen.

For low income individuals still struggling to hold onto their rapidly depreciating homes, there are grant programs readily available. Apart from federal programs, state programs also exist to help low income individuals, women and minorities.

Federal Housing Programs

If you’re in search of housing assistance, the federal Department of Housing and Urban Development (HUD) has a lot of useful information pertaining to housing grants that you may qualify for. You can find out more about the exact steps necessary to receive these grants their website.

The available funding the department has at the time of your application will determine which grants are available. The website is always updated with a notice of available funds and which grants will be available each year. Every program has an application window as to when eligible candidates can apply.  Visit HUD now to learn more.

In 2016, the amount of different grants offered by HUD had risen to 20. A lot of these programs are too late to apply for but you can check what is currently available on the HUD website.

Many HUD grants are awarded to businesses and municipalities that want to provide low income individuals and families with more housing options. The website can answer your individual questions by sifting through all the available information. You can also get a lot of helpful information about housing vouchers for section 8 and other things there.

Additional Useful Consumer Information

  • Local home buyer programs: you can visit the HUD website and see all the home buyer programs available in every state by clicking here.
  • First time home buyers information: people buying homes for the first time will get information here on the steps to buy a new home.
  • Housing counselling: anyone who is to receive a grand form HUD has to take a counselling class. Through this link, you will find ample information on how to find a class in close proximity with yourself.
  • Federal Housing Administration information: families with low income can get assistance to get homes from the Federal Housing Administration. You can also get a subsidized mortgage rate for buying a house. If you are in the process of avoiding foreclosure, the Federal Housing Administration can also assist you with some available programs.
  • Section 8 housing voucher applications: families with low wages can receive help to subsidize purchasing a house or making rent payments through the use of vouchers.  Vouchers assist by helping to pay for a significant amount of the rent or cost of the house. Section 8 vouchers are not accepted by every rental provider so it is the duty of the family applying to seek out one that does.  Click HERE to find out if you qualify for Section 8 vouchers .
  • Benefits.gov:  The federal government’s arm of HUD will very rarely give money directly to people for the purchase of a house or paying rent.  If you’re interested in federally managed home assistance programs, you can check the benefits.gov website.