POSSIBLE FUNDING SOURCES TO ASSIST LOCAL PROGRAMS
POSSIBLE FUNDING SOURCES TO ASSIST LOCAL PROGRAMS
Developed by: Center for Housing and New Community Economics (CHANCE)
http://chance.unh.edu
DESCRIPTION: Banking Coalitions
Local banks sometimes form coalitions that provide funds to address the affordable housing
needs of the community.
USES:
- down payment toward purchase
- rental assistance
- home modifications
- accessibility
- repairs
SOURCE: Local
CONTACT: Contact your personal banker or other banks in your community to find out if they
have established a coalition to assist with affordable housing needs.
DESCRIPTION: City Housing, Planning & Development
Many communities assume the responsibility for increasing the availability of affordable housing
and do so by establishing programs and funds to meet the housing needs in their communities.
USES:
- down payment toward purchase
- new construction
- rehabilitation
- job counseling
- credit counseling
SOURCE: Local
CONTACT: Contact your city government to learn about programs that are available in your
community.
DESCRIPTION: Community Action Programs (CAP)
Local community organizations that provide funding for food, utilities, or assistance to people
who are at risk of being evicted.
USES:
- rental assistance
- utility payment assistance
- food assistance
SOURCE: Local
CONTACT: Contact your city or county government to learn about programs that are organized
in your community.
DESCRIPTION: Corporate Donations
Corporations often dedicate funds for specific causes or purposes. Many allocate monies for
low-income individuals in need of assistance with affordable housing in their community.
USES:
- down payment toward purchase
- rental assistance
- home modifications
- accessibility
- repairs
SOURCE: State/Local
CONTACT: Contact local corporations to find out if they award grant funds to
your community.
DESCRIPTION: Developmental Disability Planning Councils
State councils are funded to support activities that increase opportunities for independence,
productivity, inclusion, and integration into the community. In some states, councils have
supported the promotion and development of affordable, accessible and integrated housing.
USES:
- home modifications
- accessibility
- training manuals
- pilot projects
- personal assistance
SOURCE: State
CONTACT: Check the following website to determine the administering agency in your state:
http://www.acf.dhhs.gov/programs/add/states/ddcouncils.htm.
DESCRIPTION: Fannie Mae
Fannie Mae's has a variety of programs that address the housing needs of those who have not
traditionally been served by standard mortgage products, including people with disabilities.
USES:
SOURCE:
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer
web site at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
Retrofitting Mortgage
This program helps people with disabilities remain in their homes by providing affordable
options to finance the modification of a home to meet their accessibility needs.
USES:
- accessibility
SOURCE: State/Local
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer web site
at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
DESCRIPTION: Fannie Mae (Continued)
HomeChoice
Mortgages available to qualified low- and moderate-income individuals who have disabilities or
live with family members with disabilities.
USES:
- purchase owner-occupied, principal residences, including units in approved
condominiums and planned housing developments.
SOURCE: State/Local
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer web site
at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
Community Home Buyer's Program
This is a 5% low-down payment mortgage. When combined with a special optional mortgage
product, the income limit can be removed if the borrower purchases a home in a designated
central city or an eligible minority or low-income housing tract.
USES:
- purchase owner-occupied, principal residence
SOURCE: State/Local
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer web site
at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
Fannie 97
This program requires only a 3 percent down payment, and is ideal for a potential home buyer
who has enough income to handle monthly mortgage payments, but has difficulty accumulating
cash for the down payment.
USES:
- purchase owner-occupied, principal residence
SOURCE: State/Local
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer web site
at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
Fannie 3/2
This program makes it easier for low- and moderate-income borrowers to obtain this mortgage
product's required 5% down payment by requiring that only 3% of the down payment come from
the borrower's own funds. The other 2% may come from other eligible sources.
USES:
- purchase owner-occupied, principal residence
SOURCE: State/Local
CONTACT: To learn more about Fannie Mae mortgage products visit their consumer web site
at: www.homepath.com or call the Consumer Resource Center at: 1-800-7FANNIE
(1-800-732-6643).
DESCRIPTION: Federal Home Loan Banks
The FHLBank System consists of 12 regional FHLBanks, a fiscal agent, and the Office of
Finance and is the single largest supplier of home mortgage credit in the United States
USES:
SOURCE:
CONTACT: To view the programs, the banks, and the states they cover go to:
http://www.fhfb.gov/FHLB/FHLBS_banks.htm.
Affordable Housing Program (AHP)
The AHP subsidizes the cost of housing for very low-income and low- or moderate-income
owner-occupied and rental housing that must be used to fund the purchase, construction or
rehabilitation or refinancing of owner-occupied housing or rental housing.
USES:
- owner-occupied housing
- rental housing
SOURCE: State/Local
CONTACT: To view the programs, the banks, and the states they cover go to:
http://www.fhfb.gov/FHLB/FHLBS_banks.htm.
Community Investment Program (CIP)
The CIP is a lending program in which member banks borrow money, at a discounted rate of
interest, to fund the purchase, construction, rehabilitation, refinancing,
or predevelopment financing of qualified housing.
USES:
- owner-occupied housing
- rental housing
- manufactured housing
SOURCE: State/Local
CONTACT: To view the programs, the banks, and the states they cover go to:
http://www.fhfb.gov/FHLB/FHLBS_banks.htm.
DESCRIPTION: Foundations (Local)
Many foundations award funds to specific geographic areas to promote affordable housing and
community development.
USES:
- community resource development
- workforce development
- economic development
- homeownership
- rental assistance
- accessibility
- repairs
SOURCE: Local
CONTACT: Check foundations in your area at: www.communityfoundationlocator.org
Developed by:
Council on Foundations
1828 Second Street
Washington, DC 20036
(202) 466-6512 (voice)
(202) 785-2936 (fax)
DESCRIPTION: Foundations (National)
Ford Foundation
The Ford Foundation's goals are to: strengthen democratic values, reduce poverty and injustice,
promote international cooperation and advance human achievement.
USES:
- community resource development
- workforce development
- economic development
SOURCE: State/Local
CONTACT: Ford Foundation (Headquarters)
320 East 43rd Street
New York, NY 10017 USA
(212) 573-5000 (voice)
(212) 351-3677 (fax)
www.fordfound.org (website)
Home Depot Foundation
Supports organizations that work to create and rehabilitate affordable housing making the dream
of home ownership a reality for many people. Examples of organizations supported include:
Habitat for Humanity affiliates, Rebuilding Together affiliates, Development Corporations, and
Neighborhood Housing Initiatives.
USES:
- homeownership
- rental assistance
- home modifications
- accessibility
- repairs
SOURCE: State/Local
CONTACT: The Home Depot Foundation
2455 Paces Ferry Road
Atlanta, GA 30339
(866) 593-7019 (toll free voice)
(866) 593-7027 (toll free fax)
www.homedepotfoundation.org (website)
DESCRIPTION: Housing Trusts
Dedicated capital pool established by legislation, ordinance, or resolution to receive specific
on-going revenues from sources such as taxes, fees, or loan repayments that supplies funding for
affordable housing.
USES:
- rental assistance
- home modifications
- accessibility
- repairs
SOURCE: State/LocaL
CONTACT: Contact your state, county, or city government, or public housing agency to find out
if there are housing trusts in your area.
DESCRIPTION: HUD Funds
HOME Investments Partnerships Program (HOME)
The program was created to help expand the supply of decent, affordable housing for low and
very low-income families by providing grants to States and local governments. HOME's
flexibility empowers communities to design and implement strategies tailored to their own needs
and priorities.
USES:
- build or renovate rental housing
- finance homeownership
- repair homes, including accessibility
- rental assistance
SOURCE: State/Local
CONTACT: To determine what programs are available in your community or to contact your
local representative visit:
www.hud.gov/offices/cpd/affordablehousing/programs/home/contacts/index2.cfm.
DESCRIPTION: HUD Funds (continued)
Self-Help Ownership Opportunity Program (SHOP)
Funds are provided to eligible non-profit organizations to assist in the purchase of home sites that
are developed or improved with sweat equity and volunteering based on the principals of this
homeownership program for low-income persons and families.
USES:
- land acquisitions
- infrastructure improvements
SOURCE: State/Local
CONTACT: For more information or a list of current grantees visit:
www.hud.gov/offices/cpd/affordablehousing/programs/shop/index.cfm or call 202-708-2684 or
1-800-877-8339 for the hearing impaired.
Emergency Shelter Grant (ESG)
This program was created to help states and local communities meet the basic shelter and
supportive services needs of homeless people in the area.
USES:
- renovation, major rehabilitation, and conversion
- essential services such as housing counseling, employment, mental health, substance abuse,
education
- homeless prevention activities
SOURCE: State/Local
CONTACT: For more information about this program in your community visit:
www.hud.gov/local/index.cfm.
Supportive Housing Program (SHP)
The Supportive Housing Program is designed to promote the development of supportive housing
and supportive services to assist homeless persons in the transition from homelessness and to
enable them to live as independently as possible.
USES:
- acquisition, rehabilitation, and conversion
- new construction
- supportive services
- operating costs
- leasing costs
- administrative expenses
SOURCE: State/LocaL
CONTACT: For more information about this program in your community visit:
www.hud.gov/local/index.cfm.
Community Development Block Grants (CDBG)
This program was created to develop viable communities by providing decent housing and
suitable living environment by expanding economic opportunities, principally for persons of low-
and moderate-income levels.
USES:
- rental housing
- homeownership activities
- homeowner repair
- public services
- accessibility modifications
SOURCE: State/Local
CONTACT: For more information about this program in your community visit:
www.hud.gov/offices/cpd/communitydevelopment/programs/contacts/index.cfm.
Housing Opportunities for People with AIDS (HOPWA)
Program addresses the needs of persons with AIDS and their families and provides housing
assistance.
USES:
- tenant-based rental assistance
- short-term payments to prevent homelessness
- rental assistance and related supportive services
SOURCE: State/Local
CONTACT: For more information about this program in your community visit:
www.hud.gov/offices/cpd/aidshousing/programs/contacts/index.cfm.
DESCRIPTION: Individual Development Accounts (IDA)
A program to enable low-income families to save, build assets, and enter the financial
mainstream, where savings funds can be matched by a variety of private and public sources.
Programs funded soley by private sources can be more flexible.
USES:
- purchase of first home
- post-secondary education
- training
- small business capitalization
Some private programs expand uses to include: transportation, assistive technology, and home
repair and modifications.
SOURCE: State/Local
CONTACT: Visit your state page through the Corporation for Economic Development's (CFED)
Web Site: www.idanetwork.org/index.php?section=state&page=state_pages.html.
DESCRIPTION: Medicaid Waivers
Some Medicaid Waivers can be used for home modifications, security deposits, and obtaining
assistance for other housing needs.
USES:
- home modifications
- security deposits
- other housing needs
SOURCE: State/Local
CONTACT: Contact your state medicaid office and view the services and programs they offer
through the Centers for Medicare and Medicaid Services Web Site at:
www.cms.hhs.gov/medicaid.
DESCRIPTION: Neighborhood Revitalization Programs
Neighborhood revitalization efforts are occurring in many city neighborhoods, making them
better places to live, work, learn and play by creating affordable housing opportunities.
USES:
- new construction of multi-family housing
- rehabilitation of existing dwellings
SOURCE: Local
CONTACT: Contact your local public housing agency or city or county government to find out
what revitalization efforts are occurring in your neighborhood.
DESCRIPTION: State Disability Agencies
Many State Disability Agencies have dedicated programs or other funds that provide housing and
other assistance to people with disabilities.
USES:
- home modifications
- accessibility
- personal assistance
- transportation needs
SOURCE: Local
CONTACT: To locate the government offices in your state go to: www.statelocalgov.net/hi.htm.
DESCRIPTION: Home of Your Own Program
Promotes homeownership based on the belief that non-traditional income streams and federal,
state, and local subsidies could be structured and blended to support homeownership for people
historically excluded from the housing market.
USES:
-homeownership
SOURCE: Local
CONTACT: Check with chance.unh.edu/nhoyo.html or write dv01@comcast.com or
nehockor@cisunix.unh.edu to check if there is a program in your area.
DESCRIPTION: State Housing Finance Agencies and Authorities
Many State Housing Finance Agencies and Public Housing Authorities use bond proceeds and
other funds to create innovative programs that provide supplements or funds for those who may
need assistance.
USES:
- rental assistance
- home modifications
- accessibility
- low-interest loans
- repairs
SOURCE: State/Local
CONTACT: Check with your state and local Public Housing Authority for available funds
and/or programs in your area. Consolidated plans and other information on your state can be
found through HUD's website at:
www.hud.gov/offices/cpd/about/rulesandregs/conplan/local/index.cfm.
DESCRIPTION: State Vocational Rehabilitation Programs
The agencies' mission is to help persons whose disabilities create barriers to employment or
independent living to enter, reenter, or maintain employment and enhance skills necessary for
living independently. State Vocational Rehabilitation programs are funded through the
Rehabilitation Services Administration.
USES:
- training
- transportation
- job placement
- home modifications
SOURCE: State
CONTACT: Formula Grant State by State tables may be downloaded at:
www.ed.gov/offices/OSERS/RSA/Programs/. Most states have a website with links to the
programs offered in that state.
DESCRIPTION: Religious Community Donations
Some churches and other religious organizations have funds set aside to address the affordable
housing needs of their community.
USES:
- down payment toward purchase
- rental assistance
- home modifications
- accessibility
- repairs
SOURCE: Local
CONTACT: Contact churches or other religious organizations in your community to find out if
they have a dedicated resource pool established.
DESCRIPTION: Rural Housing Funds
Rural Housing Direct Loans
Available for low- and very low-income households to obtain homeownership providing
financing at reasonable rates and terms with no down payment.
USES:
- purchase an existing dwelling
- purchase a site and construct a dwelling
- purchase a newly constructed dwelling located in rural areas
SOURCE: State/Local
CONTACT: Contact your State office to learn about available programs and eligibility criteria
for your area at: www.rurdev.usda.gov.
Rural Housing Repair and Rehabilitation Loans
Available for low- and very low-income rural residents who own and occupy a dwelling in need
of repairs
USES:
- repairs to improve or modernize a home
- remove health and safety hazards
SOURCE: State/Local
CONTACT: Contact your State office to learn about available programs and eligibility criteria
for your area at: www.rurdev.usda.gov.
Mutual Self-Help Loans
Primarily used to help very low- and low-income households to construct their own homes.
Families participating in a mutual self-help project perform approximately 65 percent of the
construction labor on one another's homes under qualified supervision.
USES:
- construction of home
SOURCE: State/Local
CONTACT: Contact your State office to learn about available programs and eligibility criteria
for your area at: www.rurdev.usda.gov.
DESCRIPTION: Weatherization/Energy Conservation Programs
Weatherization Assistance for Low-Income Persons
To insulate the dwellings of low-income persons, particularly the elderly, persons with
disabilities, families with children, high residential energy users, and households with a high
energy burden, in order to conserve needed energy and to aid those persons least able to afford
higher utility costs.
USES:
- installation of weatherization materials furnace efficiency modifications, certain mechanical
measures to heating and cooling systems, and replacement furnaces, boilers, and air-conditioners.
SOURCE: State/Local
CONTACT: Contact your state energy office to learn about available funds in your state or area
and to obtain phone, email, and web site for the State Energy Program in your state at:
www.eere.energy.gov/buidlings/state_energy/map_contacts.html.
Low-Income Home Energy Assistance Program (LIHEAP)
Grants are made to States and other jurisdictions to assist eligible households to meet the costs of
home energy.
USES:
- assist in meeting the cost of home energy
- may be used for low-cost residential weatherization
SOURCE: State/Local
CONTACT: Contact your state energy office to learn about available funds in your state or area
and to obtain phone, email, and web site for the State Energy Program in your state at:
www.eere.energy.gov/buidlings/state_energy/map_contacts.html.