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HUD Announces $26.7 Million for Affordable Housing
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You're Now Reading:
HUD Announces $26.7 Million for Affordable Housing
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
HUD Announces $26.7 Million for Affordable Housing
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June 20, 2011 (Shirley Allen)

Four non-profit organizations will receive $26.7 million in “sweat equity” grants from the Department of Housing and Urban Development (HUD) to produce at least 1,500 affordable homes for low-income individuals and families.

As part of HUD’s Self-Help Homeownership Opportunity Program (SHOP), these grants are used to purchase land and install or improve infrastructure and requires homebuyers to contribute a minimum of 100 hours of “sweat equity” on the construction of their homes and/or the construction of homes of other buyers participating in the local self-help programs.

The “sweat equity” involves the homebuyers participation in the construction of the house they are purchasing (or another buyers house) which can include such activities as assisting in the painting, carpentry, trim work, drywall, roofing, and siding for the house.

The “sweat equity” and the labor contributed by the homebuyer and volunteers, who contribute their time and labor, significantly reduces the cost of the housing.

The four non-profit organizations who received funds were Habitat for Humanity, $15,369,750, Community Frameworks, $7,361,863, Housing Assistance Council, $3,131,489, and Tierra Del Sol Corporation, $866,898.

Congress first appropriated SHOP funds in 1996 and has provided over $360 million to create more than 23,000 units of affordable housing.

Tags: HUD, SHOP, affordable homes, sweat equity, low-income, home construction

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
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Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
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Calculator
Mortgage
Rates

June 20, 2011 (Shirley Allen)

Four non-profit organizations will receive $26.7 million in “sweat equity” grants from the Department of Housing and Urban Development (HUD) to produce at least 1,500 affordable homes for low-income individuals and families.

As part of HUD’s Self-Help Homeownership Opportunity Program (SHOP), these grants are used to purchase land and install or improve infrastructure and requires homebuyers to contribute a minimum of 100 hours of “sweat equity” on the construction of their homes and/or the construction of homes of other buyers participating in the local self-help programs.

The “sweat equity” involves the homebuyers participation in the construction of the house they are purchasing (or another buyers house) which can include such activities as assisting in the painting, carpentry, trim work, drywall, roofing, and siding for the house.

The “sweat equity” and the labor contributed by the homebuyer and volunteers, who contribute their time and labor, significantly reduces the cost of the housing.

The four non-profit organizations who received funds were Habitat for Humanity, $15,369,750, Community Frameworks, $7,361,863, Housing Assistance Council, $3,131,489, and Tierra Del Sol Corporation, $866,898.

Congress first appropriated SHOP funds in 1996 and has provided over $360 million to create more than 23,000 units of affordable housing.

Tags: HUD, SHOP, affordable homes, sweat equity, low-income, home construction

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

June 20, 2011 (Shirley Allen)

Four non-profit organizations will receive $26.7 million in “sweat equity” grants from the Department of Housing and Urban Development (HUD) to produce at least 1,500 affordable homes for low-income individuals and families.

As part of HUD’s Self-Help Homeownership Opportunity Program (SHOP), these grants are used to purchase land and install or improve infrastructure and requires homebuyers to contribute a minimum of 100 hours of “sweat equity” on the construction of their homes and/or the construction of homes of other buyers participating in the local self-help programs.

The “sweat equity” involves the homebuyers participation in the construction of the house they are purchasing (or another buyers house) which can include such activities as assisting in the painting, carpentry, trim work, drywall, roofing, and siding for the house.

The “sweat equity” and the labor contributed by the homebuyer and volunteers, who contribute their time and labor, significantly reduces the cost of the housing.

The four non-profit organizations who received funds were Habitat for Humanity, $15,369,750, Community Frameworks, $7,361,863, Housing Assistance Council, $3,131,489, and Tierra Del Sol Corporation, $866,898.

Congress first appropriated SHOP funds in 1996 and has provided over $360 million to create more than 23,000 units of affordable housing.

Tags: HUD, SHOP, affordable homes, sweat equity, low-income, home construction

Source:
HUD

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.