Obama Update on Government Grants for Real Estate

Grants to renovate homes are available!!

Real estate grants make property ownership more attainable. Taxes, maintenance costs and mortgages are expensive. Grants offer an interest-free way to obtain and maintain property. Governments, non-profit organizations and private donors all offer real estate grants. Though grants are interest-free, they do require that the property owner or property itself fulfill selected criteria.  Below are a partial list of real estate grants available.

Government Grants for a Fixer-Upper Home

Several government programs are available for owners of “fixer-upper” properties to finance renovation and home improvement projects. Grants are also used for real estate acquisitions and purchasing materials and equipment. Labor, administrative and other direct costs of the approved projects are also covered by grant funds. These government grants are not required to be repaid by the recipients.

Housing Preservation Grants

The Department of Agriculture also sponsors the Housing Preservation Grant Program, which provides financial assistance to homeowners, landlords, co-op and rental property managers to renovate and improve their homes and housing units. Grants are available to applicants who live in communities of less than 20,000 residents. Eligible sponsors of the grant program include state, local and tribal government agencies and nonprofit organizations. Grants must be used within a two year period by the recipients.

Housing and Community Facilities Programs National Office
U.S. Department of Agriculture
Room 5014 South Building
14th Street and Independence Avenue SW
Washington, DC 20250
202-720-9619
rurdev.usda.gov

Self-Help Home Ownership Program

The Department of Housing and Urban Development (HUD) sponsors the Self-Help Homeownership Program (SHOP), which provides grants to build and renovate homes for low income homebuyers. Up to 20 percent of the grant amount can be used to cover administrative costs. Homebuyers are required by SHOP to provide “sweat equity,” or physical labor, during the construction phase of their homes. These grants are open to nonprofit organizations that have SHOP experience. Project costs cannot exceed $15,000.

U.S. Department of Housing and Urban Development
451 7th Street SW
Washington, DC 20410
202-708-1112
hud.gov

 Government Grants for Old Houses

Government grants are available to pay for the costs of renovating, rehabilitating and improving old houses and housing units. Grants can also be used to demolish structures if they no longer can be occupied. These government grants do not have to be repaid. Some grant programs require recipients to acquire funds from outside sources to match a percentage of the award amount.

Federal Government Home Improvement Grants

The federal government sponsors several grant programs to help eligible residents and communities pay for home renovations. These grants typically benefit low-income areas by covering the costs associated with improving and repairing homes and housing units across the United States. These home improvement grants are not required to be repaid.

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