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


2 Main Types of Government Grants for College

2 Main Types of Government Grants for College 

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There are two types of Government grants for college students. These are the federal and state grants. The federal grants have been there for a long time and they are basically simple. Every year, the federal government assigns a specific amount for certain programs. The number of students seeking college degrees keeps increasing every year. And, government College grants are made precisely to assist these students to realize their goals.

Types of Government College Grants

1. Federal

Primarily, there are three main Federal Government grants for college students. They are as following:

A. The Pell

The Pell Grant has been one of the largest federal government grants for supporting millions of students who want to pursue a college degree. This basic grant program from the federal government varies every annual budget and also on the basis of political influence. However, it has always remained an invaluable assistance to undergraduate students with low levels of income.

B. The SMART

This Government grants for college students is offered to both juniors and seniors. It awards $4,000 to students seeking to pursue:

Mathematics
Science
Computer science
Engineering
Computer science
The eligibility conditions for this college grant are the same as for the Pell Grant.

C. The AC

The Academic Competitiveness Grant is offered to sophomores or undergraduate freshmen who have demonstrated excellent academic records. In addition, you would also be required to demonstrate leadership and community service abilities. You would also have to be eligible for the Pell Grant Government grants for college.

2. State

When it comes to state College grants, you will find different types of grants being offered in different states. This would require you to search what your own state is offering you to pursue your college education.

For example, the state of Michigan offers College grants for:

Low-income students
Academically strong students
Adult students
You would have to prove that you are a resident of your state in order to avail the state grants.

Ethnicity or Race

Ethnicity and race also matter when it comes to availing state Government grants for college. Several groups that received discrimination at the hands of others in the past and weren't able to avail all the advantages are offered special grants. Most states have programs that are made to help such disadvantaged groups so that they can pursue their college education. The most commonly funded groups include:

Native Americans
African Americans

These are the leading Government grants for college and their features. This information would help you when it comes to searching for grants to further your education.



Source: http://ezinearticles.com/?2-Main-Types-of-Government-Grants-for-College&id=6912063

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