Wells Fargo Housing Foundation: Homeownership Counseling Grant Program
The Homeownership Counseling Grant Program (HCGP) provides financial resources to local nonprofit housing organizations to create affordable and sustainable homeownership opportunities for low-to-moderate income (LMI) people. The grant program focuses on:
- 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. This focus also includes credit and budget counseling efforts.
- Homebuyer education: Education with an established curriculum and instructional goals, provided in a group or classroom setting or other formats (such as online), that covers such homeownership topics as the homebuying process, how to maintain a home, budgeting, the importance of good credit, and other homebuying related subjects. Pre-homebuyer education includes 4 to 8 hour workshops. Post-homebuyer education includes reverse-mortgage education efforts.
- Foreclosure prevention activities: Efforts designed to help families keep homes that are facing foreclosure and stabilize the overall housing market. Provides information and assistance to avoid foreclosure.
Amount: Not specified.
- 501(c)(3) public charities with 509(a)(1) and 509(a)(2) designations
- 501(c)(3) public charities with 509(a)(3) designation – Type I or II only – if documented by the IRS, or if legal opinion is provided
- Governmental agencies (charitable purpose), including public schools
- Native-American tribal entities
Additional legal requirements:
- The nonprofit organization must be tax exempt under Internal Revenue Service Code 501(c)(3). Nonprofits must have completed at least two consecutive years of operations as of the date of application.
- The Housing Foundation does not provide support to private foundations or government entities that are not tax exempt under Internal Revenue Service Code 501(c)(3).
This post was filed under: