See if you qualify for an affordable housing grant There are many state and federal restrictions to receiving an affordable housing grant, so your first step should be to make sure that you qualify. Many states have rules regarding the amount for which you may qualify or the demographics of the people who can live in your property.

I recommend:  Grants.gov has an affordable housing grant directory that you can search for federal grants. Also RentLaw has a section for landlords on its website which explains how they can qualify to receive housing vouchers from their renters.

Research tax credits and tax-exempt bonds available for affordable housing An added benefit to providing affordable housing is that the state and federal government are often willing to help lift the tax burden off of the shoulders of investors. Make sure that you apply for all of the applicable tax credits you can get in your investment property.

I recommend:  Affordable Housing Finance Magazine offers a state-by-state contact list of resources to help you get your affordable housing tax credits. Also, Fannie Mae can help you find financing and tax credit solutions for your affordable housing project.

Use an affordable housing grant provider to help save you money There are several ways you can use an affordable housing grant to your advantage. You can use an affordable housing grant if you need down payment assistance or even help fixing up the investment property that you just bought.

I recommend:  An organization like USA Grant Team can help you find all of the affordable housing grants that you can qualify for. The HOME grant through HUD designates money to state and local agencies to provide affordable housing solutions in their communities. The Federal Housing Finance Board can help finance your affordable housing project.