How to Get GOVERNMENT GRANTS - PART 2

HUD has a lot of programs not only to help buyers of properties but to also offer properties at a HUGE DISCOUNT. You can contact just about any Realtor, usually those who specialize in HUD, and they can give you a weekly list of new properties.

If you don,t have your own home, you can get your own house for 3% down plus closing costs. If you are an investor, HUD usually requires a down payment of 25%.

It,s recommended that you start investing with 2 - 4 unit buildings. The reason being is because you can get a residential Ioan package from any mortgage company with residential buildings of 4 units or less. This makes the process much easier because you
can get 100% financing for just about any residential loan and you can have the worst possible credit!


Here,s a grant program specifically designed for 2 - 4 unit buildings:

$277,000 to Help Purchase a 2-4 Family Unit
14.117 Mortgage lnsurance-Homes 203B

www.hud.gov/buying/insured.cfm

You can buy a mobile home for yourself or to fix up and flip
for a profit. Here is a program for that too:

$48,000 to Buy a Mobile Home
14.110 Manufactured Home Loan lnsurance

www.hud.gov/progdesc/manuf13.cfm


Another profitable avenue to take is building or rehabilitating condos. You can do this with a special government grant program that allows you to get up to $2 million dollars to work with these types of properties. Below is a special grant to work with condos:

$2 Million to Build or Rehabilitate Condominiums
Section 234(d),
HUD insures mortgage loans made by private lenders to finance the construction or rehab of condos.

www.hud.gov/progdesc/condo14.cfm


Check out the below website for ownership vouchers:

PHA (Public Housing Agency) Home Ownership Vouchers
14.871 Section 8 Housing Choice Vouchers

www.hud.gov/offices/pihprogramcs/hcv/index.cfm


Fixer upper properties can be very profitable. There is a special government grant program for these types of properties:

Money to Buy, Fix Up, or Refinance a Home Section 203(k)

14.108 Rehabilitation Mortgage lnsurance 203k

www.hud.pov/improvements/index.cfm


Every city and town across the nation has older home that can use a good fixing up. This program can allow you to get $100,000 in free grant money to purchase an older home for the purposes of fixing it up. You can use this money as an outright purchase for an older home or as a down payment or to use for repairs, remodeling expenses, etc. Here is the resource:


$100,000 to Buy or Fix Up Houses in OIder Areas of Town Section 223(e)

14.123 Mortgage lnsurance - Housing in OIder, Declining Areas
www.hud.gov


If you live in a smaller area, here is a program to get money for homes in those areas:

Money for Homes in Urban RenewaI Areas
14.122 Mortgage lnsurance - Homes in Urban RenewaI Areas 220

www.hud.pov/offices/hsg/mfh/progdesc/progdesc.cfm


This is a program than anyone can take advantage of:

$60,000 for Renters, Homeowners, or lnvestors to lmprove Their Property 14.142 Property lmprovement Loan lnsurance for lmproving AII Existing Structures and Building of New NonresidentiaI Structures Title l

www.hud.gov/offices/hsg/sfh/title/ti_home.cfm


Mobile Home Parks (MHPs) can be very lucrative. Here is a program for a free grant to help you purchase one:

$100,000 to Help Buy a Mobile Home and a Mobile Home Lot
14.162 Mortgage lnsurance - Combination and Manufacturer Home
Lot Loans Title l

www.hud.gov/offices/hsg/sfh/ti_home.cfm


Are you in an area where a military base closed? You can get $200,000 to buy a home in one of these areas:

$200,000 to Help Buy a Home in an Area Affected by a Base CIosing
Section 238(c)
14.165 Mortgage lnsurance - Homes - Military lmpacted Areas

www.hud.gov


This is the HOTTEST trend for seniors to be able to live in their properties FREE and not have to pay a mortgage anymore. Go to the link below to find out more:

Reverse Mortgages for Seniors
www.hud.gov/offices/hsg/sfh/eem/eemhome.cfm

Are you a member of the armed forces? If so, HUD has many programs for you:

Money for Members of the Armed Forces
Section 222
www.hud.gov