Dream House Foundation Grant

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Dream House Foundation Grant

Dream House Foundation Grants Application and Eligibility – The Dream House Foundation is committed to supporting hardworking families that wake up early, go to work, and take care of their families. It is also passionate about the neighborhood. The Dream House Foundation is dedicated to supporting our communities as they develop, struggle, and realize the American dream of home ownership since our community is a mirror of everyone of us. Dream House Foundation’s community service endeavors aim to create an even playing field for all.

What is the Vision of the Dream House Foundation? 

The Vision of the Dream House Foundation is to deliver exceptional services that meet the demands of our community. The community expects a lot from the foundation and thus their main vision is to fulfill their requirements. They also focus on creating a better society where individuals and families can fulfill their dreams and also contribute much to the society.

What is the Mission of the Dream House Foundation? 

 The Mission of the Dream House Foundation is to establish enduring relationships with our community’s clients and partners by pursuing business acquisitions via compassion and innovation, all while delivering great customer service.

What are the goals of the Dream House Foundation? 

Building a solid foundation of core mortgage lenders who share the desire to assist low-to-moderate income house purchasers in purchasing properties, as well as expanding down payment assistance programs across the country. By putting these tactics into practice, it will strengthen support for services related to affordable housing and establish a solid reputation as a major player in the housing market in the local community and real estate markets. You can also apply for grants from Avon Foundation Grant Application, all you need to do is follow some specific steps.

Grant Priorities of Dream House Foundation

Healthy Youth Development

Services and initiatives that help meet the continuing needs of teenagers and young adults (birth to 25 years old) include:

  1. Social-emotional learning
  2. Mental and behavioral health
  3. Reducing mental health stigma and discrimination

Academic Achievement and Education

Programs and initiatives that provide access to high-quality education while promoting educational fairness in learning and academic accomplishment. Wrap-around educational programming from infancy through college is a priority of our grantmaking, with particular attention paid to the following:

  1. Early Childhood Education
  2. Academic Support and achievement
  3. STEAM
  4. Reading and literacy

Economic Opportunity

Programs and services that increase employment access and opportunity, including:

  • Job training
  • Financial literacy
  • Workforce and career readiness
  • Reading and literacy

Communities of Focus

The Foundation emphasizes supporting organizations that work with persons and communities in the following areas as part of our grant priorities:

  1. People of color who are Black, Indigenous, and/or economically poor
  2. Young people (birth to 25) and newlyweds
  3. People Affected by the Criminal Justice System

Community Resiliency

These are services and programs that remove obstacles to individuals’ and families’ short- and/or long-term needs. They were formerly our Basic Needs given precedence. Particular fields of grantmaking consist of:

  1. Community gardens, foodbanks, pantries, and sustainable food sources can all contribute to food security.
  2. Emergency shelter accommodations as well as long-term, stable transitional housing.
  3. Daycare and transportation for those who want to continue their studies or work.

Furthermore, they place a strong focus on providing money to groups and initiatives that provide employment or educational possibilities for those who are in prison right now, are involved in the legal system, or are returning citizens making a transition back into the society.

Also Read: Here’s all information about Big Lots Foundation Grant Size

Eligibility Criteria of Dream House Foundation

The Dream House Foundation grant’s eligibility requirements are centered on helping prospective homeowners with closing expenses and a down payment. Below is a summary of the essential requirements:

  1. Nationality: hold a valid U.S. passport or residency status.
  2. Ratio of Debt to Income (DTI): have a DTI percentage of no more than 55% or fulfill the requirements for DU approval set forth by a participating lender.
  3. Income: Based on the property’s location, meet the income requirements. These upper limitations change based on the median income in the area.
  4. Legal Contract: possess the legal competence to enter into contracts and be at least 18 years old.
  5. Buying a Home: Investing in a primary residence located in the United States.
  6. Credit Score: A minimum of 620 is required.

Additional requirements of Dream House Foundation Grant

  1. Grant Application: Complete the Dream House Foundation’s grant application form and mail it in.
  2. Engaging Financial Institution: Speak with a Dream House Foundation partner lender to get a pre-approval for a mortgage.
  3. HUD Education Course: Enroll in and complete an online course that is approved by HUD for homeowners, provided by their connected partners.
  4. First-time Homebuyer: Not required, although there can be advantages in your first purchase.

Application Processes of Dream House Foundation

Applying to the Dream House Foundation involves a number of steps, especially if you want to use their down payment assistance program:

  1. Eligibility verification

A minimum credit score of 620 is required, along with a DTI ratio of no more than 5% (or meeting the requirements for DU approval), the ability to purchase a primary residence in the United States, being a citizen or permanent resident of the United States, being at least eighteen years old, and having an income that falls within the property location’s bounds.

  1. Register and complete

HUD Instructional Program: Participate in and complete a HUD-approved online course for homebuyers that is being given by their connected organizations. You will receive a HUD Certificate of Completion upon completion.

  1. Grant Application

 Visit the Dream House Foundation website at https://dreamhousefoundation.com/ , then fill out the online grant application. Get ready to divulge details about your background, income, ideal house location, and bank account balances.

  1. Application Charge

After submitting the application, pay the $450 non-refundable application fee. This fee helps cover administrative costs and ensures that applicants are sincere.

  1. Evaluation of Applications

The Dream House Foundation will examine the applications within 72 hours of receiving the payment and the application. You will receive a call to confirm the information you submitted if it is approved. You’ll get an email confirmation if not.

  1. Next Actions

 If approved, you’ll be contacted by one of their partner lenders to start the mortgage pre-approval process.

Read more on How To Get Patterson Foundation Grants, If you want to know more about foundation grants, visit https://grantsbuddy.com/ 

Bottom Line

For industrious families aspiring to become homeowners, the Dream House Foundation is a ray of hope and support. With a deep commitment to housing ownership and community development, the Foundation has created an extensive grant program. This effort prioritizes community resilience, youth development, economic empowerment, and educational achievement. The Foundation’s dedication to providing fair chances for housing and education is furthered by the simplification of eligibility requirements, which guarantees that grants are available to those who truly need them.

Frequently Asked Questions

Who is eligible to apply for the Dream House Foundation grant?

Applicants must be at least 18 years old, have a minimum credit score of 620, maintain a Debt to Income (DTI) ratio below 55%, meet specific income requirements based on property location, and complete additional requirements like getting pre-approved by a participating lender and finishing an online course approved by HUD for homebuyers.

What are the main areas of emphasis for the grant priorities of the Dream House Foundation? 

The Foundation has a strong emphasis on economic opportunity, community resilience, healthy youth development, and academic accomplishment. Early childhood education, STEAM programs, mental health services, job training, community gardens, emergency shelters, and more are some of the specific topics.

Is purchasing a property for the first time required for receiving the grant?

No, it’s not required to be a first-time homeowner. Nonetheless, there can be extra advantages for first-time purchasers.

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