Real estate grants come from the government, private corporations and other organizations. Typically, real estate grant money can be used for research, training, home improvements, investments, repairs, neighborhood economic development or redevelopment, technical assistance, construction and surveys. The federal government typically provides grants to organizations, state and local government agencies and financial institutions instead of giving the money directly to individuals. Moneys are given to non-profit organizations to help local real estate developers and investors with housing for minorities, low income families and seniors to assist them with housing needs as well as to distressed homeowners to help them avoid foreclosure.
There may be state or local home improvement grants available in your area for repairs, home improvements and to purchase materials. State agencies work with buyers and investors to assist them with purchasing homes and may also offer home buying grants for first time home buyers. You can find information about home buying grants at the HUD website at ww.hud.gov as well. Investor Grants can be used for building low income housing and senior projects. There are also funds available for green housing and technologies to make homes more environmentally safe and cost effective and funds for investors to purchase properties in blighted areas.
Mortgage grants help distressed homeowners keep their homes. Monies are given to local non-profit organizations which in turn give the money to homeowners to help them pay their delinquent mortgages so they don’t lose them to foreclosure.
The best way to find out about real estate grants is to search your local state website for grant opportunities and to also visit the federal government’s website at www.grants.gov. Searching local grant directories is another good source to use. It is recommended that you register on the funder’s website so that you are alerted when new funding opportunities are available. Each grant has specific requirements that the applicant must follow. When applying for grants, be sure to read the eligibility requirements carefully before submitting your documentation. Always submit your grant application early in case the funder needs more information or has questions. The more grants you apply for the better because grants are not guaranteed. Grants are free.