Housing counseling agencies, which have received approval from the U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling, are now eligible to apply for $10 million in grant funding. The funds will be used by these organizations to assist prospective homebuyers, in underserved communities, throughout their homebuying journey.
"HUD is committed to expanding access to homeownership, especially for those who have been shut out of homebuying opportunities for far too long," said HUD Secretary Marcia L. Fudge, in a HUD press release. "Housing counselors across America offer invaluable information and guidance. I am pleased that even more people will be able to access their services, purchase homes, and begin building wealth, thanks to today's announcement."
According to the HUD release, pre- and post-purchase housing counseling services will be offered to communities that are underserved in an effort to bolster homeownership. The housing organizations aim to provide culturally sensitive and linguistically appropriate services, assisting these prospective homeowners in acquiring a financial asset that could help reduce the racial wealth gap.
"HUD-approved housing counseling agencies and HUD certified housing counselors serve as trusted advisors to the next generation of homeowners, who will be the most diverse in our nation’s history," said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon in the release. "Access to high quality, culturally and linguistically appropriate housing counseling can help more households attain the many benefits of homeownership, including the ability to build intergenerational wealth."
Housing agencies interested in obtaining more information or viewing the application can do so at: grants.gov, according to the news release. Applications must be submitted by April 4.
"Modeled on successful public and private sector partnership initiatives, these grants will expand access to homeownership, affirm the impact of pre- and post-purchase housing counseling, and expand the availability of HUD-approved counseling for consumers nationwide," said Deputy Assistant Secretary for Housing Counseling David Berenbaum in the release.
