HUD Awards $10M in ‘Sweat Equity’ Grants

Feb 18, 2019

A surge in refinancing helped drive up mortgage applications activity for the week ending Oct. 4, according to data from the Mortgage Bankers Association

The Department of Housing and Urban Development (HUD) awarded $10 million in "sweat equity" grants to support the work of four non-profit organizations that enable homeownership opportunities low-income families and individuals.

The grants, which are funded through HUD's Self-Help Homeownership Opportunity Program, were awarded to Grant Amount Housing Assistance Council in Washington, D.C. ($1.2 million), Community Frameworks in Spokane, Wash. ($1.3 million), Tierra Del Sol Housing Corp. in Anthony, N.M. ($2.1 million) and Habitat for Humanity International in Americus, Ga. ($5.3 million).

“Advancing economic opportunity for low-income families is a top priority of mine at HUD, and one that the department is carrying out through terrific programs like SHOP,” said HUD Secretary Ben Carson. “These grants, along with the support of our partners, will enable homeownership opportunities for hundreds of deserving families.”

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Phil Hall

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Feb 18, 2019

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