Grants / Department of Housing and Urban Development / Department of Housing and Urban Development

FR-6700-N-90: Fiscal Year 2023 Homeownership Initiative

Closed Closed April 9, 2024 Opportunity FR-6700-N-90 ☆ Save

This grant is closed. Who won this program's grants before is below, and similar open grants are at the end of the page. It is in our archive of Department of Housing and Urban Development notices from 2024.

• Award ceiling$3.0 million
• Award floor$1
• Total funding$10.0 million
• Expected awards30
• Cost sharingNot required
• Funding typeGrant

Key dates

Who can apply

This opportunity was open to the applicants described in the notice.

• 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.

Is this a realistic fit?

• Past Housing Counseling Program Homeownership Initiative awards averaged $448,923; this notice allows up to $3.0 million per award.
• Most of the program's money (100% over five years) went to nonprofits.
• No cost sharing or match is required.

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).

Category: Housing.

Applying now

This notice no longer takes applications. Agencies often post the same opportunity again under a new number, so check the program's notices on Grants.gov and the similar open grants below.

The notice on Grants.gov keeps its full text and attachments, which is useful for planning a resubmission.