Housing Grants for Low Income Earners

If you need help with safe and affordable housing, low income housing grants may be an excellent alternative for you. Grants for low income housing come in the form of cash assistance paid directly to the landlord, low income housing tax credit rebates and low income housing assistance vouchers. While many grants for low income housing are managed by the U.S. federal government, there is private foundational low income housing grants available for those who search diligently.

Government Low Income Housing Grants

The government low income housing grants programs are awarded and managed by the U.S. Department of Housing and Urban Development and are awarded to individual states to administrate. Each year, HUD awards two types of homeless grants for low income housing assistance to organizations across the country. The department awards Continuum of Care grants competitively that fund transitional housing, permanent housing and supportive services.

The Emergency Shelter Grants program provides funds by formula for homeless prevention and emergency assistance in the form of low income housing assistance and low income housing credits. When a homebuyer wants to purchase a house in need of repair or modernization using low income housing grants, the homebuyer usually has to obtain financing first to purchase the dwelling, then additional financing to do the rehabilitation and construction – and then a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing, the acquisition and construction loans, involves relatively high interest rates and short amortization periods. HUD’s 203(k) low income housing assistance program consolidates all those different financing options into one single low income housing assistance vehicle.

The Federal Housing Administration is part of the Department of Housing and Urban Development and administers various low income housing credit single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer’s credit approved.

Private Foundational low income Housing Grants

Several private foundations offer low income housing grants assistance. Building Homes for Heroes is a national non-profit, non-partisan 501(c) (3) organization founded in 2006. They provide individuals, corporations and others with low income housing grants opportunities and help severely wounded and disabled veterans and their families rebuild their lives. Building Homes for Heroes is committed to supporting those who have returned home from the wars in Iraq or Afghanistan with severe wounds and disabilities, with a goal to build homes for families in dire need.

The Cemala Foundation is a private family foundation established in 1986 by Martha A. and Caesar Cone to continue the family tradition of commitment to enhancing the quality of life of the community through grants to qualified charitable organizations. Among their many interests, the Cemala Foundation offers pass-through grants for low income housing. Providing pass-through low income housing grants to the underemployed and underprivileged the Elite Companies Charitable Foundation finds it purpose strengthened by the greater of those they serve and provides low income housing assistance to those who need it most.

While many grants for low income housing are managed by the U.S. federal government, there is private foundational low income housing grants available for those who search diligently. When seeking low income housing assistance, be sure to include housing low income grants in your arsenal of opportunities when you need it most.