A grant is better than a loan, because you need not pay it back as you need to repay your loan. There are some government provisions which allow individuals to apply for a grant if they meet certain qualification parameters. The US government has promised billions of dollars worth of grants to help the population rebuild their houses. Home improvement is a costly affair at times and the current economic recession does not help the situation either. Grants are available through various government bodies, and if you fulfill the eligibility criteria, you can avail loans on better interest rates than most private players in the home loan market. There are times when taking a loan is just not an option, as it needs to be repaid, where for some it may become very burdensome. For these US citizens, government grants are the only option and there are quite a few of these that will assist you in your house repair.
Grants for Home Improvement: Eligibility and Rules
There are people who need a grant to carry out repairs to their home to make it safe and hospitable for themselves and their families. Home improvements range from repairing a faucet to adding a new room and there are some specific eligibility criteria that you have to meet to qualify for a grant. The US department of Housing and Urban Development (HUD), recognizes that there are people in the low income group and some senior citizens who need financial aid in the form of a grant, to carry out repairs in their home. The HUD grants program allows a number of people to apply for these and the government has established the Office of Departmental Grants Management and Oversight (ODGMO).
The ODGMO streamlines grants processes and procedures in the HUD and 26 other federal grant making agencies. To apply for a HUD home improvement grant, you need to register with the government website for grants and obtain a nine character unique number, known as the Data Universal Numbers System (DUNS) and register with the Central Contract Registrations (CCR). You can apply for a government home improvement grants program for your renovations, emergency roof repair, plumbing, and electrical work, etc., but you need to register, to be eligible for any of these. The HUD also has a program, which offers grants to native Americans for their house repair needs.
The United States Department of Agriculture (USDA) rural department also gives grants to farmers for their home improvement needs. The rural repair and rehabilitation loans and grants program gives grants to low income groups, for repairing their house and removing any safety hazards. Home improvement loans cannot be afforded by all and many do not fulfill the basic criteria for one , hence the government has grants to help such individuals. They are only available to owners who are 62 years old or older. The grant amount has to be specifically used for the repairs and not for anything else. The grant amount can go up to USD 7,500 and it stands to be recaptured if the house is sold within 3 years of the grant being sanctioned.
There are some non-profit organizations and charities that fund home improvement grants for the underprivileged and people from different ethnic backgrounds. As there are college grants for single moms, there are some government assistance programs for single mothers to help them with their home improvement needs. Eligibility criteria for such assistance is that the child's father should be deceased or should have abandoned the child. The mother should be from a low income group and a US citizen.
There are billions of dollars worth of funds available at the disposal of government bodies and charity commissions, all you need to do is apply. Home improvement grants help the elderly, and the needy, to create a safe and healthy habitat, after all, food and shelter are basic human requirements.