Grant Example - Single Mother wanting grant to buy a home/homeownership...

The federal goverment has a grant program to help encourage home ownership for those who are classified as low incomed.

Here is but one example of such a program:

The objective of this grant is to help encourage homeownership.  Better homeownership helps better a community which helps better society as a whole which is what the government wants.  For this grant the homebuyer participates in the construction of the home.  The grant monies can be used for buying the land and making improvements.  There is a limit of the amount of money.  The grant is available to non-profit organizations or related groups that have a past record of providing housing to others.  They in turn provide the housing to those homebuyers that are considered to be low-incomed and not able to afford housing using conventional methods.   The homeowner is still required to pay the downpayment and monthly mortgage payments but these payments are considerably lower than buying a house using the conventional methods.

So you as the potential homeowner will have to contact the organizations that are granted these government grants and apply directly to them.  One very good example of this type of organization is the Habitat organization.  They have helped build over 125,000 houses for those who were homeless or low-incomed.  Included in their information is the fact that they do not receive government funding - their funding comes from gifts and donations.  The application process is relatively simple and those applications that are submitted are reveiwed by the organization's committee.  Race or religion is not included in the eligiblity requirements.  What is needed to be eligible is the degree of your need, how much you are willing to participate in the actual process and your ability to repay the loan which will be a no-interest loan.

In the year 2005 it is estimated that over $24 Million Dollars will be allocated for this program!
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There is another government funded program that allows regions to acquire government owned properties for $1 plus closing costs provided that they in turn provide these properties to low-incomed families, first time home buyers and those that will use the properties to provide child-care services, shelters for domestic abuse and related services.

Besides being able to provide affordable housing this is a good opportunity for different areas to acquire properties where they can generate income for the area.  If your area does not know of this government program - they should!  In 2004 over 1500 properties were sold to areas using this "$1" program.

In case you're curious, if there are no "claims" on the properties then they next go to a government program that allows teachers to buy them for 50% off their listed price.  The teachers must agree to live in the property for at least 3 years and there are some other requirements as well such as agreeing to a second note on the property that will decrease the longer you live in the property and that you are a full-time teacher employed in the area that the property is in.  Teachers apply by submitting offers on the properties that are available.  Again this government program was started to help communities to thrive.  In 2004 over 550 properties were sold this way.