We are new home builders that want to build affordable homes, are there grants or construction loans to help get these homes started?

answered 2016-05-03 13:41:39 -0800

Corey
151 ●1 ●3

Sounds like a great project, hope this information will help you. The department of Housing and Urban Development provides Block Grants to states and the biggest one I think is for the Home Investment Partnership Program (HOME). States and communities use the money, sometimes in partnership with non-profits, for a number of activities but one of them is building or rehabilitating housing for low income people. Unless you're a non-profit you probably can't get such grants directly, but if you can identify non-profits in your area who receive such grants you might be able to get financial help with the cost of building such homes.

I would suggest that you contact your nearest Federal Housing Agency to see if they have information about non-profits which have received grants to increase low-income housing availability. Also check the website for your state and county and see if you can find any iformation about grants. 

If you could partner with a non-profit agency, you might be able to team up and apply for a grant. This article about grants for non-profits might also be helpful.