While
HUD does not offer direct grants or loans to individuals, we do
work through local governments and non-profit organizations to make
financial assistance and counseling available.
There
are some things you should know about government funding of a new
home:
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The
federal government does not give housing grants directly to individuals.
The funds are given to states and certain municipalities, who
in turn, distribute the funds to residents.
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No grant will cover 100% of the cost of a house.
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The government will not give a grant to anyone who cannot
use it toward a mortgage; therefore, qualification for a mortgage
is necessary.
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Any program the federal government has to assist first-time buyers
in a home purchase will require that you attend a HUD
approved Housing Counseling class. They help people get their
finances organized so they will qualify for a mortgage. |
Below
are some resources that may be of assistance.
Contact
your local government for help - directory of official state,
county and local government websites.
Housing
Counseling - listing of HUD-approved housing counseling agencies!
HUD funds housing counseling agencies throughout the country who
can give you advice on buying a home, renting, defaults, foreclosures,
credit issues and reverse mortgages.
American
Dream Downpayment Initiative (ADDI) - ADDI will provide funds
to all fifty states and to local participating jurisdictions that
have a population of at least 150,000 or will receive an allocation
of at least $50,000 under the ADDI formula.
Local
Homebuyer Programs - in addition to HUD's mortgage insurance
programs, there may be programs sponsored by your state or local
government or other organizations.
Low
Downpayment Information - will facilitate approval of downpayment
assistance through secondary financing programs and will permit
nonprofit and government agencies greater flexibility in providing
downpayment and other assistance to prospective homeowners through
secondary financing.
Home
Improvement Help - facts and the pitfalls of home improvements.
Housing
Choice Voucher (Section 8) - allows very low-income families
to choose and lease or purchase safe, decent, and affordable privately
owned rental housing.
Mortgage
Programs - there are many laws that protect you from scams,
unnecessary expenses, and discrimination in the process of home
buying. Know your rights!
Starting
your own business - starting a business can be an exciting venture
offering many rewards. However, you must be prepared and you must
understand the basics. The Small Business Administration's website
provides valuable information.
GovBenefits
- GovBenefits.gov helps citizens access government benefit eligibility
information through a free, confidential, and easy-to-use online
screening tool. After answering some basic questions, the user receives
a customized report listing the benefit programs for which the user,
or person for whom he or she is entering information, may be eligible.
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