Government Real Estate Grants
In the last six months, the government real estate grant money has increased to include more eligible categories for use of this funding. For instance, there are government programs that are "Go Green" that are available to update your furnace, insulation, window replacement and solar energy. Also there are available grants for first time home buyers, down payment assistance, home improvements and rehabilitation of properties in depressed areas.
As an investor you might be interested in the following grants:
- Restore Real Estate
- Help with Purchase Investment Property
Each grant that you apply for has specific functions and purposes. By searching an online grant directory, you can quickly identify the grant programs that are currently provided funding and see how much you qualify to receive. Each program has different eligibility requirements, and all the details on how to submit an application correctly is provided with your access to the grant database.
1. The first step is to review a public database to identify those programs, and then submit your application to see how much you can obtain. The funds that are awarded to approved applicants are provided tax-free, interest-free and with no repayment terms. A good database to browse for grants is Grants.gov. Use the “Search” tool to look for grants by keywords.
2. HUD (US Department of Housing and Urban Development) has been promoting quite a few grants this year, in an attempt to promote housing recovery. Click here HUD Grants for their site.
3. Fill out the Grants application very carefully. Do not overlook any required information, since the approval comes down to complete and accurate details.
4. Most real estate grants will require a Grant Proposal, which is basically a business plan about what you intend to do with the grant money. Also keep in mind that real estate grants are favored to individuals, who plan to help the community or the neighborhood where the property is located, so make sure you address that for better chances in obtaining the grant.
5. Once the application and the proposal have been completed, send them to the appropriate agency so that the package will be received by the deadline date. Some packages can be hand-delivered to the local agency offices (which is preferable) and others will have to be mailed to the appropriate main location.