Homeownership Counseling Grant Program Guidelines
Wells Fargo Homeownership Counseling Grant Program Description
HCGP Program Segments
- Homebuyer Counseling
Counselor-to-client assistance that addresses unique financial circumstances and housing issues, and focuses on overcoming specific obstacles to achieve housing goals such as: repairing credit, locating cash for a down payment, recognizing predatory lending practices, understanding fair lending and fair housing requirements, avoiding foreclosure, or resolving a financial crisis.
- Includes credit and budget counseling efforts.
- Homebuyer Education
Education with an established curriculum and instructional goals, provided in a group or classroom setting or via other formats (on-line), that covers such homeownership topics as the home-buying process, how to maintain a home, budgeting, the importance of good credit, and other home buying related subjects.
- Pre homebuyer education includes 4-8 hour workshops
- Post homebuyer education includes reverse mortgage education efforts
- Foreclosure Prevention
Efforts designed to help families keep homes that are facing foreclosure and stabilize the overall housing market.
- Provides information and assistance to avoid foreclosure.
- Down Payment/Closing Cost Assistance
Funding used for down payment assistance/closing costs that assist homebuyers /homeowners to purchase or retain their homes.
- Home Rehabilitation
Efforts that focus on returning a residential structure (specific to homes of low-to moderate-income (LMI) homeowners/ homebuyers) to a state of utility, through repair or alteration. May include simple repairs or replacement of items such as a furnace or a ramp (for handicap accessibility).
- New Construction
Efforts that focus on site preparation for, and construction of, entirely new structures and/or significant extensions to existing structures (specific to homes of LMI homeowners/homebuyers) whether or not the site was previously occupied.
- The Housing Foundation provides grants for costs directly associated with programs or projects that qualify as an HCGP Program Segment.
- The non-profit organization must be tax exempt under Internal Revenue Service Code 501 (c) (3).
- The Housing Foundation does not provide support to IRS 501c3 private foundations or government entities that are not tax exempt under Internal Revenue Service Code 501 (c) (3).
- Non-profit organization must not be operating in a deficit.
- Non-profit must have completed at least two consecutive years of operations as of the date of application.
- Non-profit may only receive one grant per calendar year from the Homeownership Counseling Grant program.
- The Housing Foundation does not provide multi-year grants. The organization must reapply for future consideration.
- The Housing Foundation/Charitable Giving Managers and their local review Committee’s may not allocate a grant amount above the project budget amount as indicated on the original grant application.
- Grant funding must be used within one year of grant award date.
- Nonprofits who have received HGP (Homeownership Grant Program) /HCGP funding in previous year(s), must complete and submit an online progress/final report prior to applying for additional HCGP funding. HCGP applications will be declined for not meeting reporting requirements associated with a previous HGP/HCGP grant.
- Project/program must serve low to moderate income homebuyers & homeowners.
- The following Housing program types are not eligible for HCGP grant funding:
- Individual Development Accounts (IDA’s)
- Loan Pool Programs
- Rental Housing, Group Home, Long Term Care Facilities, or Shelter Housing Programs
- Project/program must serve owner-occupied low-to moderate-income homeowners & homebuyers.
Proposal Submission and Decision Dates
|Submission Period 2016
||Decision Date 2016
|January 2 - February 1||April 1 - May 15|
|June 1 - 30||September 16 - October 31|
To submit your on-line application
Review the attached Homeownership Counseling Grant Program Application Guide for screen shots of and helpful hints in completing the Homeownership Counseling Grant Program Eligibility Quiz and Application.
New applications can only be accessed & completed during the stated submission periods identified above. For information relative to the application, refer to the “Homeownership Counseling Grant Program Application Guide".
To complete and submit a new application or return to an application already started Click Here
Important Note: The Housing Foundation reserves the right to change or modify program guidelines and forms without prior written consent or notice.