Business
Fact-checked

At SmartCapitalMind, we're committed to delivering accurate, trustworthy information. Our expert-authored content is rigorously fact-checked and sourced from credible authorities. Discover how we uphold the highest standards in providing you with reliable knowledge.

Learn more...

What Types of Housing Grants are Available?

Ken Black
Ken Black

The types of housing grants available can be broken down into three main categories: purchasing grants, rent assistance, and home improvement grants. The funds available often depend on a number of different factors, such as income requirements, location and past grants received. Housing grant programs can be administered by any number of different agencies as well.

In the United States, the most common agency issuing housing grants is the Department of Housing & Urban Development (HUD), which has among its missions the goal of creating affordable housing. These grants, while paid for with national money, are often administered on the local level through a city or county office, depending on the state involved. Therefore, applications will be handled through a local office, which is designed to help expedite the process and keep decisions as local as possible.

Housing grants may be available to help families who have lost homes due to a natural disaster.
Housing grants may be available to help families who have lost homes due to a natural disaster.

One of the most attractive types of housing grants for people to take advantage of are those that assist with down payments. Often, these are only available for first-time home buyers. Those who are able to get this type of grant can consider themselves to be very fortunate. It will not only help lower the monthly payment, but allow the home owner to build instant equity.

A Section 8 voucher provides rental assistance to citizens who would not otherwise be able to rent an apartment.
A Section 8 voucher provides rental assistance to citizens who would not otherwise be able to rent an apartment.

Another type of housing grant that is very popular is rental assistance. This is administered through HUD under what is known as Section 8 of the U.S. Code. This program can partially pay for rent on a unit. However, while the payments are usually only partial, they can be a substantial portion of the rent. Eligibility, and how much a person may be qualified for, is determined through the application process by looking at factors such as household size, existing liabilities and income.

Housing grants may help to raise someone out of poor living conditions.
Housing grants may help to raise someone out of poor living conditions.

Often, those interested in a rental assistance grant will need to get on a waiting list as demand for the grants is very high. This low-income housing program can be quite popular and many cities cannot keep up with demand. Once a grant becomes available for an individual, he or she will be able to keep the grant as long as they meet the eligibility requirements. However, a periodic review for eligibility will be required.

Housing grants can help provide a home for low-income expectant mothers.
Housing grants can help provide a home for low-income expectant mothers.

Refurbishment or remodeling housing grants may also be available from one of two different agencies. These may be issued as part of a normal program through HUD. However, in cases where there have been natural disasters such as floods, tornadoes or hurricanes, it is also possible some of these housing grants will be offered through the Federal Emergency Management Agency. In such cases, it will likely be necessary for the individual to submit proof that damage was caused by the disaster.

You might also Like

Discussion Comments

Ocelot60

@raynbow- Each community is different, so you should contact a social service agency in your area to find out what organization you should call for more information. If you still have no luck, your local public safety office may have information about housing grants or what office to contact.

Raynbow

How can you find out about available housing grants in your community? I can't seem to find a HUD office, so I'm not sure what agency handles these grants in my area.

Post your comments
Login:
Forgot password?
Register:
    • Housing grants may be available to help families who have lost homes due to a natural disaster.
      By: Brian Nolan
      Housing grants may be available to help families who have lost homes due to a natural disaster.
    • A Section 8 voucher provides rental assistance to citizens who would not otherwise be able to rent an apartment.
      By: Mikael Damkier
      A Section 8 voucher provides rental assistance to citizens who would not otherwise be able to rent an apartment.
    • Housing grants may help to raise someone out of poor living conditions.
      By: Andrea Izzotti
      Housing grants may help to raise someone out of poor living conditions.
    • Housing grants can help provide a home for low-income expectant mothers.
      By: Africa Studio
      Housing grants can help provide a home for low-income expectant mothers.