# Fiscal Year 2023 Homeownership Initiative

Source: https://welltoldgrants.com/grants/fr-6700-n-90-fiscal-year-2023-homeownership-initiative/  
Official notice: https://www.grants.gov/search-results-detail/349592

> Department of Housing and Urban Development offered grants of up to $3.0 million (at least $1) to the applicants described in the notice. It expected to make about 30 awards worth $10.0 million in total. Applications closed on April 9, 2024.

| Field | Value |
|---|---|
| Opportunity number | FR-6700-N-90 |
| Agency | Department of Housing and Urban Development |
| Status | Forecast |
| Deadline | April 9, 2024 |
| Award ceiling | $3.0 million |
| Award floor | $1 |
| Expected awards | 30 |
| Total funding | $10.0 million |
| Cost sharing | not required |
| Assistance Listings | 14.022 |

## Who can apply

- Others (see text field entitled "Additional Information on Eligibility" for clarification)

1. Eligible applicants must satisfy the following criteria: Applicant must bean Intermediary or Multi-State Organization (as defined by 24 C.F.R. 214.3) approved to participate in the HUD Housing Counseling Program prior to the NOFO publication date. In addition, State Housing Finance Agencies are eligible for this NOFO if they possess statutory authority to provide housing counseling throughout their state and adhere to all program requirements outlined in 24 C.F.R. Part 214, HUD Housing Counseling Handbook 7610.1, and other governing policies and requirements. experienced providing pre-purchase counseling and post-purchase counseling directly or through its Subgrantees and/or Branches.HUD will use its own records to determine eligibility.2. Limit on Applicants and Subgrantees: Applicants and Subgrantees are prohibited from receiving this grant funding from multiple sources.

## What the grant funds

The Homeownership Initiative (HI) helps to bridge the homeownership gap by increasing homeownership rates among Underserved Communities. HUD-approved Intermediaries, Multi-State Organizations, and State Housing Finance Agencies will receive Fixed Amount Awards to provide Culturally Sensitive, Linguistically Appropriate Housing Counseling that results in home purchase, mortgage origination, and preservation of ownership. The purpose of this housing counseling is to improve the likelihood that a household is ready for the long-term legal and financial responsibility of homeownership and that terms and conditions of a mortgage are well-matched with the household’s personal and financial circumstances. The scope of pre-purchase counseling includes awareness of state and local property law and homeownership assistance programs, such as down payment and closing cost assistance, gap financing, and sweat equity. The scope of post-purchase counseling includes home maintenance, repair, and safety to preserve the property and mortgage relief programs to preserve ownership where feasible. All counseling and follow-up must be provided in accordance with the Housing Counseling Program regulations (24 C.F.R. Part 214).

## Questions people ask

### Is FR-6700-N-90 still open?

No. It closed on April 9, 2024.

### Who can apply for Fiscal Year 2023 Homeownership Initiative?

Department of Housing and Urban Development accepted applications from the applicants described in the notice. The notice adds further conditions, so read its eligibility section.

### What is the deadline for Fiscal Year 2023 Homeownership Initiative?

Closed April 9, 2024. Applications are no longer accepted; the program's newer notices are on this page when there are any.

### How much funding is available?

Awards of up to $3.0 million each. About $10.0 million in total across about 30 awards.

### Who has won Housing Counseling Program Homeownership Initiative grants before?

The largest recipients over five fiscal years were Neighborhood Stabilization Corp, National Urban League, Inc., Unidosus. The program made 21 awards worth $9.4 million in that time.