Sunday, 21 August 2016

Housing Grants and Schemes 2016-First Time Home Buyer Grants

A secured shelter is a primary need for all hence every year the federal government disburses grants and housing assistance programs for the low income earning people to help them get affordable homes.

Grants from the government are first allocated to states, counties, agencies and nonprofits that are later disbursed to eligible applicants based on their need and income level. In 2016, housing grants have been granted to states and counties by the federal government and HUD. Let’s have a look at them.
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State Home Buying Assistance Programs: every state has been granted home buying assistance programs, mostly for first-time buyers. According to states, a first-time buyer is one who never owned a house or one who has not purchased a home in last three years. However, the first time buyer conditions remain inapplicable for eligible Veterans and those purchasing a home in a ‘target area’ as selected by a state.

Every state will have different number and type of home buying programs according to its area that will provide with down payment assistance, special police or programs for firefighters, mortgage credit, Veteran program, disabled homeowner program, home improvement, energy efficiency program etc.
Visit your state website for a detailed knowledge of the programs or consult a participating lender to apply.
Community Development Block Grant Entitlement Program: it offers grants to eligible counties and cities annually on a formula basis for the development of urban communities. The program, authorized under the 1974 Housing and Community Development Act Title 1, seeks to provide affordable and decent housing, revitalized neighborhoods, improved facilities, economic development, better services and a proper living environment to low income and moderate earning people. The following are the eligible grantees:
Main cities of metropolitan Statistical Areas (MSAs)
Metropolitan cities that have minimum population of 50,000
Eligible urban counties that have minimum population of 200,000
The CDBG funds are targeted for national objectives like eliminating slums, to benefit low/moderate income earning people, meet community development requirements, eliminating threats to the welfare of a community etc.
Housing Grants and Schemes 2016
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New York HUD Grants: recently in June’16 HUD and the Department of Justice (DOJ) announced to award $9 million to survivors of domestic violence having HIV/AIDS. The main purpose is to help them get a secure shelter and prevent homelessness.
The HIV/AIDS Housing Office of HUD and DOJ’s Violence against Women Office collaborated to offer funding and assistance for housing and other support services to secure the future of the survivors. Victims of stalking, sexual abuse, dating violence and domestic violence having low-income earnings and living with AIDS can apply for the grant program.
New Housing Trust Fund: almost $174 million has been allocated to states by HUD through its new Housing Trust Fund for granting decent, affordable and secure housing for low and very income earning families that also include those who are homeless. Almost $3 million will be given to each state for housing facilities.
The Housing Trust Fund is a new housing production program initiated to function with state, federal and local government for offering affordable housing to the disadvantaged.
Start applying for the new 2016 housing grants and get a secured shelter for your family.




Tags- Free home repair grants,for single moms,for senior citizens,for teachers,first time home buyer grants,housing assistance,for veterans,for low income people.

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