A new home that could be purchased with the assistance of a housing grant.
Many nonprofit housing organizations work with government agencies to effectively assist their communities through the use of grants, according to the Department of Housing and Urban Development. Private sector firms and businesses provide another channel for grant funding from the government to communities as well. These organizations share a desire to improve their communities through home ownership.
Home Building
Companies sometimes offer grants to help individuals afford housing. Wells Fargo offers this type of grant assistance to low-income individuals. Employees from this financial institution volunteer to build a home for an economically disadvantaged family in their area so that the family can qualify for grant funding. The average contribution is around $7,000. Wells Fargo Housing Foundation can be contacted at (612) 667-5131.
Development Program
Sometimes state development programs can aid individuals with owning a home. The Neighborhood Revitalization Program was implemented by the Vermont Department of Housing and Community Affairs to address the foreclosure problem in their area. This organization has received nearly $20 million in grant funding to apply toward the acquisition and redevelopment of homes. The homes are foreclosed, destroyed and abandoned properties restored for residential use. To find out more information about this program, you mustcall the Vermont Department of Housing at (800) 662-4553.
Housing Agencies
Westchester Residential Opportunities Inc. is a New York-based HUD certified housing agency. This organization helps low- and moderate-income individuals, seniors, minorities and the disabled with non-discriminatory housing opportunities. Funding comes from various sources, including government and corporate contributions. Their grant funded program assists first-time home buyers with down payment and closing costs. This program is available to residents in the White Plains and Mount Vernon areas. Other states have housing agencies like this one to help first-time home buyers.
Alaska Housing
The Alaska Finance Corporation is committed to safe, quality and affordable housing for the people of Alaska. Grants, loans and tax credits are provided to developers and project sponsors. The Home Opportunity Program is a grant-funded plan that benefits from this corporation and it provides down payment and closing cost assistance to qualied low-income individuals and families in Alaska. The Alaska Community Development Corporation and the Fairbanks Neighborhood Housing Services offer this program.
Aid
Keep in mind that grant assistance for home ownership usually aids home buyers in the form of down payment and closing costs. You can find at least one housing agency in your area that will have some form of grant assistance for first-time home buyers. Many organizations receive this type of funding from HUD and this agency should be your first place to visit when searching for a grant for home ownership.
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