The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling has announced the allocation of $10 million in grant funding under its Homeownership Initiative to 23 HUD-approved housing counseling agencies. This funding aims to support these agencies in preparing prospective homebuyers for the homebuying process and guiding them toward affordable homes.
The announcement was made in Harrisburg, PA, by Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon at the Pennsylvania Housing Finance Agency, one of the grant recipients. The Pennsylvania Housing Finance Agency will receive over $479,000 to support their network of affiliates in delivering homeownership counseling programs to underserved communities throughout the state.
“Under the Biden-Harris Administration, we are unlocking doors of opportunity for families to achieve homeownership and build generational wealth,” said HUD Acting Secretary Adrianne Todman. “This Homeownership Month, I’m proud to announce that we are awarding another $10 million to equip prospective homebuyers with the tools they need to navigate the process, which will expand homeownership to everyone who wants it.”
The grants will enable HUD-approved housing counseling agencies to provide culturally sensitive and linguistically appropriate services for pre- and post-purchase housing counseling. The goal is to increase homeownership rates among historically underserved communities. This initiative reflects the Biden-Harris Administration's commitment to closing the racial wealth gap and addressing barriers that disproportionately affect marginalized communities.
“Housing counseling agencies play a unique and critical role in helping first-time homebuyers achieve homeownership,” said Assistant Secretary for Housing Julia Gordon. “Today’s grant awards will help housing counseling agencies throughout the country reach those who may never have believed they could own a home and help them prepare for, enter into, and maintain homeownership.”
Deputy Assistant Secretary for Housing Counseling David Berenbaum added: “The Housing Counseling Homeownership Initiative is an innovative approach to linking funding for vital housing counseling with specific outreach programs geared towards homeownership education and decision-making. We intend to make this initiative a model for future programs that can directly serve first-time homebuyers in underserved communities.”
