HUD Awards $13.5 Million In Grants To Expand Access To Homeownership Opportunities

By HUD Photos: HUD WASHINGTON – Today, the U.S. Department of Housing and Urban Development (HUD) awarded $13.5 million in “sweat equity grants” to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help Homeownership Opportunity Program (SHOP), four non-profit housing providers will use HUD’s grants to construct or rehabilitate 445 homes along with contributed labor from the homebuyers and volunteers that, will significantly lower the cost of homeownership. “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.” Principal Deputy Assistant Secretary Marion McFadden made the announcement during a Habitat for Humanity Build in Nashville, Tennessee where she stood alongside a future homeowner who used funding from SHOP to help make this happen. Organizations receive SHOP funding to help people and communities throughout the country by increasing access and availability to affordable homes. “Given the national needs to build at...