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


What Are Government Grants?

What Are Government Grants?

Government grants involve donated money given to the government to help meet certain goals or money obtained from passing laws that allow for funding to be obtained through the federal budget.

The government provides this money to individuals and organizations that apply for the grants, who need funding for a specific project or program. Because the grants are given only for specific needs, they may not pay for ongoing expenses, and may not be enough to cover the total cost of a project or program.

While the money received through a grant may be free, it does not necessarily come without obligations. Each applicant who receives a grant will be responsible for maintaining certain expectations outlined in the grant application.

If the obligations are not met by the grant receiver, the grant money may be withdrawn and in some instances the receiver may be asked to repay the money that has been spent.

Types of Government Grants

Every year, our U.S. government awards billions of dollars to government agencies, institutions, small business, and individuals through grants. Grants are divided or categorized by the following types of grants:

Block Grants - Block grants are distributed to individuals who meet pre-existing requirements, such as income or race. There are many eligible activities associated with block grants, and they are typically used as funding for general and broad purposed programs, such as public health and community development.
Project Grants - Project grants are used to fund specific projects over a fixed period of time. The process for applying for these grants is generally highly competitive. One type of project grant program that can be seen as an example would be the U.S. Department of Justice project called the Justice and Mental Health Collaboration Program .

This program provides funding for states over a certain period of time for assessment and service for those who have committed a crime and been diagnosed with a mental illness.
Formula Grants - Like block grants, formula grants are given based on pre-existing criteria. This type of grant however, is non-competitive. Anyone meeting the basic requirements who applies will be eligible for grant money from the government.

Categorical Grants - Categorical grants only allow for a specific range of activities and are provided through a pre-determined formula. They may also be distributed to organizations who do meet the required formula, at the discretion of the U.S. government.
Earmark Grants - Earmark grants are provided by lawmakers who state a specific project or program in the federal budget. The funds are essentially “earmarked” for those who are willing to apply for the grant.
How to Find and Apply for Government Grants

Most of us have seen the cheesy advertisements for books and even video tutorials on “How to Find Free Government Grants.” These offers usually come with a hefty price tag, but in reality, they don’t provide much useful information.

Government grant information is readily available (and free), so you don’t need to purchase a book to view the different grants available.

Here’s how it works:

Once the budget for the federal government is approved, grant projects become available to the public and are announced by the government through the Federal Register.

Grants can appear throughout the year in the Catalog of Federal Domestic Assistance, or CFDA . This listing of grants provides information on how to apply for each grant, who is eligible for grants, and how each grant is allowed to be used.

Weekly reports of new grant programs can be found in the Weekly Federal Funding Report . This report is provided by the House of Representatives.

Once you locate the grant you are interested in, you’ll contact the appropriate government agency to request an application. Grant applications will require you to be extremely thorough, often requesting details such as your full business plan, financial records, details of how funds will be used, and proof of all qualifications.

Whether you are looking for government grants for college, a business start-up, or other assistance, take the time to look on the government websites provided. While finding the right grant may be a bit of a challenge, the assistance received will be well worth the effort.

 Visit to:http://thegovernmentfundedgrant.blogspot.com/


Source:http://www.collegegrantsandscholarships.org/government-grants/


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