Understanding Federal Government Grants for Home Improvements

The economy we live in makes it very difficult to spend all your hard earned savings on home improvements. You never know what the financial crisis is lurking behind the corner. You don’t want to spend all your savings on house improvements and then run out of money in a moment of crisis. The best solution to this problem is housing grants or home grants for making home improvements. There are many private as well as federal agencies which provide real estate grants specifically for the purpose of making changes in your home or repairing your home. These housing grants have certain predefined criteria; if you feel well within these eligibility criteria then chances are that you will easily get a home grant for renovating your home.

Some of the most popular real estate grants granted for federal agencies for home improvements are as follows:

• Repair/Rehabilitation Loan: These loans are specifically granted for the purpose of rehabilitating and repairing single family homes. The basic eligibility criteria for this home grant requires the family to have one of four members and the family should be a resident of the house for at least a year.

• Property Improvement Loan: If you are thinking about getting a new roof or upgrading your kitchen, then this is the loan you are looking for. If you are looking for real estate grants for both single and multipurpose families and rehabilitation loans for residential as well as nonresidential property then property improvement loan is the answer.

• Native American Loans: This type of home grant is specifically for communities like American Indians, Alaskan Natives, etc. Native American home loans can be granted for rehabilitation of a home, new home construction, home refinancing or buying an existing house. If you are a Native American then you are entitled to have this loan for all the above mentioned purpose/requirements.

• Rural Area Loans: There are also home grants or real estate grants for families or individuals with low and moderate income. They come under the category of rural low income Americans and are entitled to have rural area loans for rehabilitation of a home, new home construction, home refinancing, etc. It includes other wide range of activities that help rural families to get a home for themselves or make significant changes to their home. Certain Credit Restrictions are an important part of it but it should be verified with HUD.

• HOME Program: The home programs provide housing grants to those communities which in collaboration with or receive and give support to certain nonprofit organizations. These grants to nonprofit organizations help to build houses for needy people with extremely low income.

Tips: If you are looking for housing grants then it is better if you seek the help of federal government organizations to make sure that you are part of a legit housing program. Private funding organizations are not always 100% authentic.

Lastly it can be concluded that home grants or housing grants can be easily obtained if you are eligible for the federal home loan plan and home programs. There are also real estate grants to help in improving the non residential property.