Department Of Housing And Urban Development
570000000 for Local Communities to Fix Up Your House
Called Community Development Block Grants, Section 108 Loan Guarantees and referred to as Program #14.248 in the Catalog of Federal Domestic Assistance, this program provides communities with a source of financing for economic development, housing rehabilitation, public facilities, and large scale physical development projects. All projects and activities must either principally benefit low and moderate-income persons, aid in the elimination or prevention of slums and blight, or meet urgent needs of the community. Eligible Applicants include: metropolitan cities and urban counties, i.e., the principal beneficiaries are low and moderate income persons. To find organizations in your area who have this funding, contact your local office of the U.S. Department of Housing and Urban Development
50 Discount For Teachers K 12 To Buy A Home
Called the ‘Teacher Next Door Initiative and referred to as Program #14.310 in the Catalog of Federal Domestic Assistance, this program is designed to strengthen America’s communities by encouraging public and private school teachers to live in low and moderate income neighborhoods. Teachers (State-certified in grades Kindergarten through 12th grade) may purchase HUD-owned single unit properties located in designated revitalization areas at a 50 percent discount off list price. Teachers must agree to occupy homes as their sole residence for a period of 3 years. The teacher must also agree to execute a second mortgage and note in the name of the Department for an amount equal to the 50 percent discount. This zero interest note will gradually decrease over the 3-year mandatory residence period until it reaches zero. Should the teacher leave the home before the 1st anniversary of occupancy, 90 percent of the discounted amount will be due to HUD. Departure before the 2nd anniversary of occupancy will require a 60 percent repayment, and departure before the 3rd anniversary of occupancy will require a 30 percent repayment of the discounted amount. Contact your local office of the U.S. Department of Housing and Urban Development
5000 to Get Rid of Lead Paint in Your Home
Called the Lead-based Paint Hazard Control in Privately-Owned Housing Program and referred to as Program #14.900 in the Catalog of Federal Domestic Assistance, this program provides grants to identify and control lead-based paint hazards in privately- owned housing that is owned by or rented to low- or very-low income families. Specific objectives include: (1) building the capacity necessary to eliminate lead-based paint hazards in all housing; (2) preventing childhood lead poisoning; (3) involving cooperation among all levels of government, the private sector, faith-based organizations, and community-based organizations; (4) integrating comprehensive community approaches to address lead hazards in housing; (5) integration of lead- safe practices into other programs which will continue beyond the life of the grant; (6) establishment of a public registry of lead-safe housing; and (7) promoting job training, employment, and other economic lift opportunities for low-income residents of project neighborhoods. . Contact your local office of the U.S. Department of Housing and Urban Development at
2000000 to Fix Up Multifamily Units
Called the Supplemental Loan Insurance Multifamily Rental Housing Program and referred to as Program #14.151 in the Catalog of Federal Domestic Assistance, it can be used to finance repairs, additions and improvements to multifamily projects, group practice facilities, hospitals, or nursing homes already insured by HUD or held by HUD. Major movable equipment for insured nursing homes, group practice facilities or hospitals may be covered by a mortgage under this program. Contact your local office of the U.S. Department of Housing and Urban Development
60000 for Renters Homeowners or Investors to Improve Their Property
Called ‘Property Improvement Loan Insurance for Improving All existing Structures and Building of New Nonresidential Structures Program and referred to as Program #14.142 in the Catalog of Federal Domestic Assistance, this program provides financing of improvements to homes and other existing structures and the building of new nonresidential structures. Contact your local office of the U.S. Department of Housing and Urban Development
Help With Mortgage Rent and Credit Counseling
Contact one or many of your local U.S. Department of Housing and Urban Development Counseling Agencies. These groups can help with problems concerning your rent or mortgage and some even have grant money to get you through tough times. They can also help with your credit problems or direct you to an organization that can help you without ripping you off. Remember, if the office near you is not helpful enough contact one a little further away. It could be worth the drive.
3 Billion in Grants to Fix Up Homes in Cities
Called Community Development Block Grants/Entitlement Grants and referred to as Program #14.218 in the Catalog of Federal Domestic Assistance, this money can be used to develop viable urban communities, by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for persons of low and moderate income. To find organizations in your area who have received this funding, contact your local office of the U.S. Department of Housing and Urban Development
5000000 to Build or Fix Up an Apartment Building
Called Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects and referred to as Program #14.155 in the Catalog of Federal Domestic Assistance, this program provides money for existing multifamily housing projects, whether conventionally financed or subject to federally insured mortgages at the time of application for mortgage insurance. Only projects not requiring substantial rehabilitation are acceptable under this section. The estimated cost of required repairs may not exceed 15 percent of the estimated value after repairs or $6,500 per unit adjusted by a high cost factor, whichever is greater and may not involve the replacement of more than one major system. The program has statutory per unit mortgage limits which vary according to the size of the unit, the type of structure, and the location of the project. There are also loan-to- value and debt service limitations. Prevailing wage requirements under the Davis-Bacon Act do not apply to this program. Contact your local office of the U.S. Department of Housing and Urban Development
Fortunes Are Made In HUD Foreclosed Property
The U.S. Department of Housing and Urban Development sometimes needs to sell multifamily housing projects that are owned by the Department or are subject to a mortgage held by the Department. The property can also be sold with a grant for the rehabilitation of the property if the new owners meet certain requirements. See Program #14.199 Multifamily Property Disposition at Department of Housing and Urban Development, Office of Housing, Multifamily Housing Programs, Office of Asset Management, Room 6160, 451 7th Street, SW., Washington, DC 20410; 202-708-0614, extension 2680