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Sunday, 31 July 2016

Housing Grants For Senior Citizens-First Time Home Buyer Grants

A secured home is a primary need for all but securing a shelter seems a distant dream for senior citizens having low-income levels or rather no income. Over tens of millions of senior citizens live below the poverty level, a number that is increasing every day. Limited budgets and low savings often pose hurdles and monetary constraints in purchasing a home or paying off rents.
The federal government, nonprofits, state agencies, the Department of Housing and Urban Development and counties offer multiple programs and housing grants for senior citizens, enabling comfortable and secure living. The funds are allocated to state, city or local agencies that are later disbursed to eligible candidates. Start applying now.
Housing Grants for Seniors
HUD Section 202 Supportive Housing for the Elderly Program
The Department of Housing and Urban Development offers rent subsidies for affordable rehabilitation, construction or acquisition of housing. Below income level elderly citizens can reside independently in a well-equipped ambiance that includes transportation, cleaning, cooking, security and safety.

In an effort to expand housing projects for the elderly, HUD offers interest-free capital to the nonprofit or private sponsors that are non-repayable.
Housing Choice Voucher, the key housing grant program of the federal government, offers financial aid to almost 2.1 million households for locating safe townhouses, single-family homes, and apartments. HUD offers the housing funds to public housing agencies (PHAs) for the administration process. The funds are initially approved for 3 years and later renewed. Some important points to remember before applying:
Very low-income families with at least one individual of 62 years can apply
Application must be submitted in Notice of Funding Availability (NOFA)
Applicants under the Notice of Funding Availability (NOFA) are only applicable
Private nonprofit associations and nonprofit consumer cooperatives need to fulfill the stated norms in the program and General Section to apply for the program
USDA Affordable Rural Housing
The United States Department of Agriculture (USDA) administers the Section 515 Multi-Family Housing (MFH) program that offers subsidies for more than 15,000 complexes. The apartments, built in all the 50 states in the rural sectors, range from studio apartments to four bedroom houses.
Housing Grants For Senior Citizens
Public Housing
Low-income senior citizens are offered decent and affordable housing through the Public Housing  program. 1.2 million households of varied sizes are awarded to senior citizens having below 80% of the median income. These rental houses are managed by HUD and administered by 3,300 local housing agencies (HAs). Applicants must be U.S. citizens, must be 62 years of age or above and should submit references certifying that they and their family will be good tenants and will be favorable for other tenants.
There are many other housing grants for senior citizens available through nonprofits like Mercy Housing, Habitat for Humanity, Salvation Army, Fannie Mae and others. You can also seek help from local organizations and churches for housing support. Start applying soon!

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