Grant for Grads

grant-for-gradsWhat is Grant for Grads?

Grant for Grads is a housing assistance program created by the Grant County Economic Growth Council (GCEGC) administered by Affordable Housing & Community Development Corporation (AHC). This program is specifically for graduates with an associate’s degree or higher who are choosing to live and work in Grant County.

 

Homebuyer Incentive Program

Receive up to $5,000 to pay for a down payment and/or closing costs as you purchase a home in Grant County! The principal will be forgiven at 20% per year as long as you reside in the home. AHC will guide you through the homebuying process.

Renter Incentive Program

Receive a 20% reduction in monthly rent payments! For a rental property costing less than or equal to HUD’s Fair Market Rent, Grant for Grads will pay 20% of monthly rent directly to the landlord on your behalf. The maximum program benefit is $2,500 and minimum lease agreement is 12 months. AHC can help you find the housing situation that best fits your needs and budget.

What’s in it for Graduates?flowersgrad_resized2

We pay, you stay! If you have a bona fide job offer or have been at your current full-time job for less than 2 years, Grant for Grads can cover a portion of the down payment and/or closing costs to help you purchase a home in Grant County. If you have been at your current full-time job for less than a year in Grant County, Grant for Grads can pay a portion of your monthly rent.

What’s in it for Employers?

Retain educated employees! Utilize the Grant for Grads program as an incentive for current or potential employees to work in Grant County.

How to Apply

1. Contact Affordable Housing Corporation (AHC) to receive an application packet and learn if you qualify for the program.
2. Complete and return packet to AHC.
3. If you qualify, a certified housing counselor will contact you to request a $250 processing fee to verify your information.
4. When the verification process is complete, the counselor will contact you to schedule a one-on-one appointment to discuss the results and status of your application.

Contact Information

Affordable Housing Corporation
812 S. Washington ST.
Marion, IN 46953
Fax: 765-662-1578
Phone: 765-662-1574
Website: www.ahcgrantcounty.com

FAQ

1. Who qualifies for the program?

Eligible applicants are graduates of an accredited post-secondary institution/program with an associate’s degree or higher who live and work in Grant County:

  • Graduates of an accredited post-secondary institution/program with an associate’s degree or higher. Preference will be given to graduates of Indiana Wesleyan University (Marion Campus) or Taylor University (Upland Campus), or Ivy Tech Community College (Marion Campus).
  • Must be starting or about to start a job in Grant County classified as permanent full-time employment. This does not have to be the applicant’s first job after graduation.
  • Rental assistance is only available for a grad who completed their most recent degree or moved to Grant County within the past 2 years.

2.    Can I still apply if I’m already working in Grant County?

Yes! Graduates who are currently employed may still be eligible based on a review of the circumstances.
If you have been continuously employed in a full-time position with the same employer for more than 180 days up to the 2nd anniversary of hire date and want to purchase a house, the maximum benefit is $2,500.

3.  Can I still apply if I already own or rent a home in Grant County?

No. Unfortunately the grant dollars can only be applied toward initial down payment or closing costs and cannot be applied retroactively. Graduates wishing to purchase a home cannot have owned a home in Grant County within the past 5 years.

4.    Where can I live?

You can live anywhere in Grant County as long as it fits within your budget and qualifies as safe and decent. Visit the Grant County Economic Growth Council’s website for information on housing developments, local realtors, and apartment complexes in the area.

5.    What if I can’t afford to pay the processing fee?

The $250 pays for a tri-merge credit report, the verification of your information, and recommendations to GCEGC for approval. At the time the fee is due, your housing counselor will talk to you about scholarships available based on income.

6.    If I start as a renter, can I switch to the homebuyer incentive?

Yes! Even if you have expended the entire renter incentive program benefit of $2,500, you are still eligible to apply to receive the remainder of the $5,000 total program benefit for downpayment and/or closing costs to purchase an eligible Grant County home.

 

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