What is the difference between a loan and a grant?



Defining Loans vs. Grants. There are several types of loans available depending on your situation. The government classifies these loans based upon your budget needs. When looking for financial help, there is a difference between grants and loans. Grants are essentially loans that do not have to be repaid. However, it is unlikely that you will receive a grant for personal expenses or debt. So let’s look at the types of loans that are funded or backed by the government.


Home Loans – Federal Housing Administration (FHA) Loans Rural Development Loans Small Business Loans FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) - which is part of HUD - insures the loan, so your lender can offer you a better deal.

• Low down payments
• Low closing costs
• Easy credit qualifying

Buying your first home?

FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?

FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors

Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient?

You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?

Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products - one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

To continue your search please go here https://www.usa.gov/unclaimed-money




Featured Articles

Claim Your Unclaimed Child Support Funds

The US Federal Child Support Enforcement Program was created in order to protect the rights of custodial parents by ensuring the enforcement of court orders for medical and financial child support payments. The program has been a huge ...

Read More

Unredeemed Gift Cards and Gift Certificates Refunds

If someone gave you a gift card or certificate for a special occasion, you might have put it in your wallet and forgot it was there. Unfortunately, many gift card and gift certificate has become expired due to the fact that...

Read More

Emergency Help Paying Rent - Rent Assistance Programs

Most people have found themselves in a situation where they were low on funds. You may panic if you find that you do not have enough money to pay your rent. The good news is that there are many programs that can help you i...

Read More

Disaster Grants - Public Assistance

It's something you never think will happen to you and many people's worst nightmares. A disaster, whether manmade or natural, can both be devastating to the people who survive them. This article will go over ways to get immediate help in th...

Read More
VIEW ALL ARTICLES