The U.S. government oversees several government programs that provide money to qualified Americans for a variety of purposes. These government grants are available to help pay for several types of expenses, such as housing, food, education, utilities, healthcare, and education.
In most cases, government assistance programs are reserved for individuals and families that are struggling financially. However, some grant programs do not have income requirements and are available to more people. In addition to federal grants, you may also be able to get free grant money from state or local governments. Learn more about grant opportunities and how you may be able to receive them.
There are several government assistance programs out there that can help you with housing expenses. Housing is one of the most basic human needs and is usually a family’s largest expense.
Government grants and programs may be able to help reduce your housing-related expenses, like a down payment or monthly mortgage/rent payments. They could even help with other sneaky expenses, like costly repairs or expensive utility bills.
Government Assistance for Rent and Mortgage Costs
Low-income renters may benefit from the Housing Choice Voucher Program, also called Section 8. This is one of the most widely-known government assistance programs and provides subsidies for rental apartments and houses.
A subsidy allows approved landlords to offer units at a reduced cost. The government must approve the housing unit as well as your application. It then pays a portion of the rent each month directly to the landlord, and you (the renter) pay the remaining balance.
If you want to buy a home but do not have enough money saved for the down payment, you may be able to get a type of loan called down payment assistance, or DPA. DPA is mostly available to first-time homebuyers and usually comes with maximum income limits and minimum credit scores. Most DPA government housing grants come from state Housing Finance Agencies (HFAs).
Another type of federal government grant is called the Good Neighbor Next Door program, which is administered by the Department of Housing and Urban Development (HUD). With this grant, police officers, teachers and other public servants can get a home at half the price that it would normally sell for in the market.