Federal Low-Income Housing Grant Increases Two-Fold

States will receive nearly $700 million in federal grants for low-income housing from the Housing Trust Fund—more than double the $322,564,267 disbursed last year. The Housing Trust Fund, administered by the US Department of Housing and Urban Development, uses revenue generated from federally backed home mortgage companies to fund the program. The increase results from the recent spike in mortgage lending. The funds will be used for the acquisition, construction, maintenance, and restoration of low-income housing.

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