Texas Housing Grants
- Housing grants are very important to the Texas economy.50 US dollars banknotes on white image by Aliaksei Hintau from Fotolia.com
Texas home grants are available to many individuals purchasing houses in the state of Texas. These grants are made available to individuals and families that are in need of financial assistance purchasing a home. These grants are provided through the Texas Department of Housing and Community Affairs and are available through a broad list of programs. Most grants are designed to help very low to moderate income individuals, but there are other grants available to people of all income levels. - The first time home buyer program provides funds to eligible families that have never owned a home or have not owned a home within the last three years. These funds are made possible by channeling below market interest rate mortgage money through several participating Texas-based lending institutions. There are several income restrictions to this program and it is designed to help families in the very low to moderate income brackets. This grant is very useful because it helps families get a foothold in the housing market and helps low income families get started with savings. This grant is very important in helping families that are just starting out and families that are going through financial difficulty.
- The Texas "Bootstrap" loan program is designed to help very low income people. The "Bootstrap" program uses state funds to help families build their own homes or rehabilitate old homes. The grant requires that the family or individual provide 60 percent of the labor required to build the house. The loan cannot exceed $60,000 per unit and the Departments Housing Trust Fund supplies funds. This grant is unique in that it requires the grantee to put more into the grant than just an application. It allows homeowners to invest sweat equity into their lives while contributing to their long-term financial situations. Homes that are built from this grant can be new homes or extensive renovations on current houses.
- The emergency shelter grant program (ESGP) provides grants to approved entities that offer shelter and other services to homeless persons or individuals that are threatened with homelessness. The grant is intended to help reduce homelessness and help the homeless population rehabilitate. ESGP is an integral part in establishing new shelters and renovating current shelters that are owned by organizations. This grant is very important in helping lower homeless rates and increasing the success rate of current homeless shelters.
