I am currently a high school junior and have been homeschooled my whole life. It isn’t homeschooling in the literal sense as all of my classes are online and taught by actual teachers. However, I have heard that because of this colleges will tend not to look at my GPA as they would a GPA of a public schooled student. My question is: will this affect my chance of getting scholarships that require both GPA and ACT scores even if I have a good ACT score, say a 30-31?
Don’t worry. Your GPA will be respected and valued. I was homeschooled all my life, so I know. 
It will definitely look better if you have a good ACT score. Colleges are more willing to respect your individual homeschool education and not look at you as the kid who Mommy taught and got all A’s if you have high standardized test scores. But reading your thing, I see that you weren’t actually homeschooled homeschooled where your parents were your only teachers (Me lol) so college will also acknowledge your outside teachers as credible professionals.
Colleges will believe that you have a 4.0 if you get a 33 than if you have a 4.0 and got a 22.
Thanks! It was parents up until high school then it went to real teachers, thank God lol
Parents ARE real teachers. 
My home schooled son qualified for scholarships at several schools based on GPA and SAT scores.
Totally agree @austinmshauri!!! Parents absolutely have the ability to educate their children and prepare them for college. 
Some schools require more subject test scores from homeschooled students. I think they are looking for more information to compare against a broader pool of students. You should take a look at some schools you are considering and see if they have any information on their admissions pages about this, and plan to take whatever you need to. My advice is to leave enough time for two sittings prior to putting in applications, in case you aren’t happy with your scores the first time around. Maybe take a shot this spring, with plans for another in the fall if necessary. This could help with admissions and possibly scholarships if they are trying to evaluate your academic strength.