Tuesday, 10 January 2017

USDA Housing Grants Assistance and Home Loans For Low Income

Low income families looking for housing assistance and home loans can turn to USDA for financial help. USDA provides housing opportunities in rural areas, renovation grants, and home repair programs to low income and very low income households. Moreover, low-interest home loans are also available for emergency needs to help pay off rents. Let’s read about them.
Multi-Family Housing Rental Assistance
This program pays the owners of the Rural Rental Housing to compensate the rent the low income tenants cannot pay. The tenants pay the rent according to their income levels and the remaining is paid by the USDA. The rental assistance is offered for apartments in existing or new Rural Rental Housing financed properties. The funds are offered to properties occupied by very low and low-income tenants who can’t pay their rents. The first priority is given to those with very low income i.e. who have income below 50%-80% of area median income.

Mutual Self-Help Housing Grants
USDA gives grants to organizations that financially help low and very low income people to construct their own houses. These are self-help construction projects supervised by organizations and constructed by eligible families or individuals in rural areas. The construction labor is provided by the group members while the technical assistance is provided by the in-charge organization.
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The grant program was initiated to offer financially deprived families affordable, safe and decent homes to live in. The very low income people who reside in substandard houses are given first priority.
Home Loans For Low Income
Single Family Housing Direct Home Loans
Low and very income people can apply for the loan program to get affordable, safe and decent housing in rural areas. It offers payment assistance that can reduce the mortgage payment for a certain period. The family income is the determining factor for the loan amount.
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The loan amount may be used to purchase home in rural areas that have less than 35,000 population, to repair, build, renovate or relocate a home. An applicant’s income levels, debts, assets, and repayment ability are the deciding factor for the loan amount. Moreover, the loan amount cannot exceed Area’s Loan Limits.
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The eligibility criteria to apply are:
Applicants should not have a decent and safe house
Should not be able to get loan from other resources
The house should be the primary property and occupied by the applicant
Should be legal U.S. citizens
Have the ability to repay debts
Single Family Housing Guaranteed Loan Program
Low and moderate income people can get a loan from USDA to get decent, safe and sanitary houses to live in. The loan amount can also be used to repair, renovate, build, rehabilitate or relocate a house in a rural area. To apply applicants must go to an approved lender in their state. To apply applicants must:
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Have needed income eligibility
Be legal U.S. citizens
Should be eligible to participate in federal programs
Meet credit obligations on time
Start applying soon for USDA Housing Assistance and Home Loans. For more information do visit USDA site.




Tags- first time home buyer grants, home loan program, housing assistance, mortgage assistance, home repair, home improvements, window replacement, roof repair grants.
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Friday, 6 January 2017

New HUD Housing Grants Assistance For Affordable Living

Every year HUD expands its grants and benefit programs to offer decent housing assistance and provide stable and decent living conditions for the low-income earners. In 2016 HUD has implemented many grant programs to offer the best possible financial help to those living at poverty levels. Let’s read about the new HUD grants.
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According to a November press release HUD and VA have announced to grant $18.5 million to provide permanent housing to almost 2100 Veterans. The grant is targeted towards 39 local public housing agencies in U.S. and it will be administered through the HUD-VASH program. Vulnerable homeless Veterans from different communities will be given supportive services and affordable and stable housing assistance through the HUD-VASH Project Based Vouchers.
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Since its inception in 2008, the HUD-VASH program has awarded more than 79,000 vouchers to about 111,000 homeless Veterans.
Furthermore in December HUD and VA announced to provide additional $2.9 million to provide 529 homeless Veterans in rural areas with permanent homes. The grant money will be given to local public housing agencies working to provide affordable housing.

HUD Grants for Youths Living in Public Housing
HUD has awarded 9 Public Housing Authorities almost $2.5 million to hire Education Navigators to help youths of 15-20 years and their families living in Public housings apply for higher educational degrees. The program, named the Resident Opportunities and Self Sufficiency for Education Program, will assist in applying for post-secondary degrees and federal student aid for college and will guide them with the application process. Youths will now get assistance to apply for FASFA and post-secondary programs for a brighter future and flourishing lives.
New HUD Housing Grants
Local Homeless Grant Program
In 2010 President Obama had launched a strategy-Opening Doors: Federal Strategic Plan to Prevent and End Homelessness. In respect to that plan HUD has awarded $1.95 billion grant money to end chronic homelessness and provide shelter to all. The grant has been awarded to approximately 7,600 homeless assistance programs that serve individuals and families facing homelessness.
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Internet Benefits for Low Income Families
HUD’s ConnectHome and Comcast took the initiative to expand their internet services to low income families. It was an act of bridging the Digital Divide between the rich and the poor. The high speed internet program-Internet Essentials is targeted for the families living at poverty levels, public housing residents, and HUD housing residents. People availing the Housing Choice Voucher Program, Public Housing Program, and Multifamily Program can also avail the internet benefits if they reside in Comcast service areas.
Grants for Public Housing Residents
Public Housing Authorities, Native American Tribes, Public Housing Resident Associations and nonprofit organizations have been awarded $32 million. This initiative has been taken to hire service coordinators for the residents to help them with educational opportunities, provide job training, find decent and stable jobs, connect with placement programs and gain financial independence. 
Research well about the new HUD grants and start applying soon. For more information read 2016 Housing Grants for You.




Tags- hud housing grants, home repair grants, home buyer grants for veterans, home buyer grants for low income, housing grants for single moms, home improvement grants.
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