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Down Payment Assistance Affordable Housing for Home Buyers
America is on track to benefit from more Recovery Act jobs of local companies that can hire new employees, workers who are no longer faced with uncertainty, and families that no longer need to struggle to pay their bills. Grants will pay for the purchase and rehabilitation of vacant or foreclosed residential properties with an opportunity to help provide down payment assistance to help families purchase homes. Money was set aside to provide low interest rates, first time home buyer tax credit, grants for affordable housing and to help first time home buyers with down payments and closing costs. Content: Government Housing Programs
Creating jobs and making a difference in Housing
Evidence supports that the Recovery Act is helping to cushion the greatest economic crisis since the Great Depression and lay a new foundation for economic growth. When we see low-income first time buyers receiving support and education to make wise home buying decisions, when we see our senior citizens living in decent, safe and affordable housing, when we see new infrastructure under construction and when we see small businesses still working, keeping their employees and providing new jobs for others, we know that the Recovery Act is working for America.

Making Home Affordable Program
In February 2009, the Obama Administration introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis to get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure.

Homeowners can connect with free HUD-approved counseling organizations, locate free events in their area, find the application documents necessary to apply for the Making Home Affordable Program, as well as find answers to frequently asked questions, and much more.

FHL Bank Community Programs
The Federal Home Loan Bank System provides a stable source of funding to federally insured depository institutions. 12 regional banks in the Federal Home Loan Bank System, which raises funds in the global financial markets and distributes the proceeds to members and local communities. More than 8,000 community banks everywhere in America belong to the Federal Home Loan Bank System. Each member relies on its Federal Home Loan Bank as a stable source of lower-cost funding through all economic cycles. Funds from Federal Home Loan Banks help finance homes, jobs, small businesses, local infrastructure and affordable housing.

Serving the economic and housing needs of communities by providing local banks with flexible options for community development initiatives. Contributing to community non-profits in the form of grants and subsidized advances that help build affordable housing. These funds have help construct more affordable housing units and have contributed to job growth throughout the region.

The 12 regionl FHLBanks are located in Atlanta Georgia, Boston Massachusetts, Chicago Illinois, Cincinnati Ohio, Dallas Texas, Indianapolis Indiana, New York New York, Pittsburgh Pennsylvania, San Francisco California, Seattle Washington and Topeka Kansas.

Federal Financial Assistance Grants
Grants.gov was established as a governmental resource named the E-Grants Initiative, part of the President's 2002 Fiscal Year Management Agenda to improve government services to the public. The concept has its origins in the Federal Financial Assistance Management Improvement Act of 1999, also known as Public Law 106-107. Public Law 106-107 has since sunset and is now known as the Grants Policy Committee.

The web site is managed by the U.S. Department of Health and Human Services and is a central storehouse for information on over 1,000 grant programs providing access to approximately $500 billion in annual awards. The initiative is partnered with many federal agencies to help communities and improve government services to the public.

Housing and Urban Development
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. HUD awards grants to organizations and groups for a variety of purposes. Working with local nonprofit organizations to invest in their communities through property rehabilitation and resell to first time home buyers and low to moderate income families.

HUD is set up in 10 regional areas throughout the states.
Boston Massachusetts, Connecticut, Maine, New Hampshire, Rhode Island, and Vermont
New York and New Jersey
Philadelphia Pennsylvania, Delaware, District of Columbia, Maryland, Virginia, and West Virginia
Atlanta Georgia, Alabama, the Caribbean, Florida, Kentucky, Mississippi, North Carolina, South Carolina and Tennessee
Chicago Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin
Fort Worth Texas, Arkansas, Louisiana, New Mexico, and Oklahoma
Kansas City Kansas, Iowa, Missouri, and Nebraska
Denver Colorado, Montana, North Dakota, South Dakota, Utah, and Wyoming
San Francisco California, Arizona, Nevada, American Samoa, Guam, and Hawaii
Seattle Washington, Alaska, Idaho and Oregon

USDA Rural Development Programs
Committed to reach people who live in areas that have historically been underserved by USDA Rural Development. A large part of this outreach effort will target very-low income residents residents who have traditionally made up a small portion of our borrowers, but who are in great need of assistance in finding quality, affordable housing in their communities.

Community Facilities programs also have an important role to play in improving the lives of rural Americans, financing a wide range of essential community buildings. Community Facilities loans and grants expand access to health care in rural communities by financing hospitals, medical clinics and assisted living facilities.

Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) was created on July 30, 2008, when the President signed into law the Housing and Economic Recovery Act of 2008. The Act created a regulator with all of the authorities necessary to oversee vital components of our country’s secondary mortgage markets – Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. In addition, this law combined the staffs of the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB), and the GSE mission office at the Department of Housing and Urban Development (HUD). With a very turbulent market facing our nation, the strengthening of the regulatory and supervisory oversight of the 14 housing-related GSEs is imperative. The establishment of FHFA will promote a stronger, safer U.S. housing finance system.

Federal National Mortgage Association
The Federal National Mortgage Association, commonly known as Fannie Mae, was set up as a stockholder-owned corporation chartered by Congress in 1968 as a government sponsored enterprise (GSE), but founded in 1938 during the Great Depression. The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage backed securities, allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on thrifts.

Rather than making home loans directly to consumers, Fannie Mae works with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have funds to lend to home buyers at affordable rates. FNMA headquarters in Washington DC and services the United States through satellite offices such as Pasadena California, Mobile Alabama, Windsor Connecticut, Atlanta Georgia, Dallas Texas, Covington Louisiana, Boston Massachusetts, Portland Oregon, Philadelphia Pennsylvania, Chicago Illinois, Chantilly Virginia, Herndon Virginia, and Seattle Washington.

Government National Mortgage Association
Ginnie Mae was established in 1968 to promote affordable home ownership. As a wholly-owned government corporation within the Department of HUD, Ginnie Mae expanded affordable housing in the U.S. by bringing global capital into the nation’s housing finance markets. The Ginnie Mae guarantee allows mortgage lenders to obtain a better price for their loans in the capital markets. Lenders then can use the proceeds to make new mortgage loans available to consumers. This also helps to lower financing costs and create opportunities for sustainable, affordable housing for families seeking home ownership.

Ginnie Mae mortgage backed securities have been delivering results and creating affordable housing opportunities for over 30 million homeowners over the past 35 years.

Federal Home Loan Mortgage Corporation
Freddie Mac, one of America's biggest buyers of home mortgages, is a public government sponsored enterprise (GSE). Chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing to buy and sell mortgage backed securities on the open market.

Every day FHLMC helps millions of families in neighborhoods across America buy their own homes or enjoy quality and affordable rental housing by linking them to the world's capital markets. In the process reducing the costs of housing finance and expanding housing opportunities for all families, including low income and minority families. Freddie Mac has opened doors for more than 50 million families. FHLMC headquarters in Virginia and has branch offices in Los Angeles California, Carrollton Texas, Parker Colorado, Greenwood Village Colorado, Atlanta Georgia, Chicago Illinois, New York New York and Washington DC.

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