APPLY FOR GRANTS

Housing is a basic human necessity. The United States Federal grants for first time home buyers is an initiative by the government to help first time home buyers which aims at reducing the extra cost levied in the process of purchase.Provided below is an overview of the process to apply for grant opportunities. In order to apply for a grant, you and/or your organization must complete the Grants.gov registration process. Registration can take between three-five business days or as long as two weeks if all steps are not completed in a timely manner. Register for grant opportunities now. Apply Today!!


The economic recession or bubble, which hit the United States economy further aggrieved home buyers, as the recession had undoubtedly created an economic bubble in the real estate sector. Another important aspect was the burden of mortgage loan and home loans. In order to ease this burden, Federal grants have been implemented by the United States government for first time home buyers.

The basic process of home buying is simple and people tend to follow it, as if it's a convention. The buyer first short lists on a couple of properties that he is willing to buy. Then the buyer approaches the mortgage lenders who originate the loan. After the lenders take a credit report check, the underwriting process for the short listed properties is initiated. The underwriter points out to the property that has a better future equity raise projection. The buyer then pays the closing costs and undertakes the down payment, upon which the mortgage is approved and the property is bought.

Government Grants for First Time Home Buyers

Federal grants is financial aid provided by Federal government, State governments and United States Department of Housing and Urban Development, to first time home buyers, and broadly referred to as the housing grants federal programs. First time home buyers can easily avail such financial aid, as such funds are not meant for repayment.

The Federal government aims at eliminating such costs so that home buyers do not have to worry about down payments and closing costs. In some cases additional funds that can be used, or the first installments are also granted. Some of the important government grants have been elaborated here, take a look and apply through the department's website.
  • Grants for First Time Home Buyers: This grant is basically granted to those people who do not qualify for some or the other recognized mortgage loan. The usual amount that is approved is about 10% of the total home value. There are however some or the other qualifying requirements and requisites for this grant. The grant is provided through the Department of Housing and Urban Development.
  • American Dream Grant: This grant is also known as the American Down Payment Initiative. This government grant is aimed at taking off the down payment costs, initiated in the year 2003, it was authenticated by an enactment by the same name. The initiative was aimed at providing home buyers, with either 6% of purchase cost or with $10,000, whichever is higher.
  • Additional Home Grant Program: Community Development Block Grants (CDBG), Emergency Shelter Grants (ESG) and Housing Opportunities for Persons with AIDS (HOPWA), are some of the additional housing programs that provide grants to people upon the fulfillment of some requisite condition.
  • 203(b) Mortgage Insurance: Mortgage repayment is an important, issue for most new home buying. Such home buyers are granted a mortgage insurance policy by the HUDs, which helps and ensures the repayment of the loan.
In order to obtain Federal grants for first time home buyers, refer to the site of Department of Housing and Urban Development, or the state agency, for the same. You will get the requisites and application procedures over there.
By source - buzzle.com


Federal Government Grant for women

Federal Government Grant for women

Contrary to what books and TV ads say, the U.S. government is not giving away "free grant" money. A grant is not a Christmas present. According to American Government & Politics, by Jay M. Shafritz, a grant is, "A form of gift that entails certain obligations on the part of the grantee and expectations on the part of the grantor."

The key word there is obligations. Getting a government grant will get you loads of them and not fulfilling them will grant you a load of legal troubles.
Few Grants for Individuals: Most federal grants are awarded to organizations, institutions, and state and local governments planning major projects that will benefit specific sectors of the population or the community as a whole, for example:
  • A neighborhood street paving project
  • A state-wide program to re-train displaced workers
  • A project to attract new businesses to a depressed downtown area
  • A regional water conservation program
  • A state or county-wide flood control project
Organizations that get government grants are subject to strict government oversight and must meet detailed government performance standards during the duration of the project and funding period of the grant.
All project expenditures must be strictly accounted for and detailed audits are conducted by the government at least annually. All granted funds must be spent. Any money not spent goes back to the Treasury. Detailed program goals must be developed, approved and carried out exactly as specified in the grant application. Any project changes must be approved by the government. All project phases must be completed on time. And, of course, the project must be completed with demonstrable success.
Failure on the part of the grant recipient to perform under the requirements of the grant can result in penalties ranging from economic sanctions to prison in cases of improper use or theft of public funds.
By far, most government grants are applied for and awarded to other federal agencies, states, cities, colleges and universities, and research organizations. Few individuals have the money or expertise necessary to prepare adequate applications for federal grants. Most active grant-seekers, in fact, employ full time staffs to do nothing but apply for and administer federal grants.
The plain truth is that with federal funding cutbacks and competition for grants becoming more intense, seeking a federal grant always requires a lot of time and potentially a lot of money up front with no guarantee of success.
Source: http://usgovinfo.about.com/od/moneymatters/a/granttruth.htm
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