The U.S. Department of Housing and Urban Development (HUD) gave $13.5 million in “sweat equity grants” to non-profit, self-help housing organizations that provide homeownership options for hardworking, low-income families and individuals.
“HUD is committed to investing in homeownership and creating affordable options for Americans to buy their first home,” said HUD Acting Secretary Adrianne Todman. “The SHOP program provides a unique pathway for first-time homeowners to buy a home, with financial support from HUD and the help of volunteers, buyers contribute their sweat equity to make buying a home a reality.”
HUD’s Self-Help Homeownership Opportunity Program (SHOP)
Awardees include:
- Community Frameworks, WA — $5,250,000
- Habitat for Humanity International, Inc., GA — $4,750,000
- Housing Assistance Council, DC — $2,500,000
- Tierra Del Sol Housing Corporation, CO — $1,000,000
Total: $13,500,000
HUD’s Self-Help owning Opportunity Program (SHOP) funding will be used by four non-profit housing providers to construct or restore 445 homes, as well as contributed work from homebuyers and volunteers, lowering the cost of owning significantly. Organizations get SHOP financing to assist people and communities around the country by enhancing access and availability of affordable housing.
“Given the national needs to build at least two million new homes, it’s a joy to provide millions of dollars enabling homeownership by people of modest means,” McFadden said. “There’s nothing more important to our wellbeing than waking up to face the day in a comfortable home.”
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