Affordable Housing Grant

Find affordable housing grant information to help meet your investment property needs
By Maria St. Louis-Sanchez If you are an investor interested in providing affordable housing solutions in your neighborhood, an affordable housing grant may be able to help. An affordable housing grant can help you come up with the funds you need for a down payment or mortgage insurance for your investment project. Federal and state agencies want to provide affordable housing and often are willing to help out investors to make it happen and even give you tax credits. A low income housing grant can help you to:

1. Get mortgage insurance to help you qualify for a mortgage.

2. Get on an affordable housing grant list to get the funds needed for a down payment on an investment property.

3. Get an affordable housing grant to help you pay for improvements to your investment property.

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.
Try:  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.
Try:  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.
Try:  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.

• Even if you don't think you would qualify for an affordable housing grant, it still may be worth the time in research. You may be surprised by what you find is available.
• Expect to have high turnover in your affordable housing investment property. Try to keep your property maintained and designed in such a way that it can withstand the turnover without costing you a lot in the process.