Not everyone can easily handle the cost of their housing expenses. Sadly, many people can have a hard time keeping up or even getting housing altogether. However, the United States Department of Housing and Urban Development (HUD) recognizes that people face this problem. That is why they offer a variety of different housing support opportunities. 

What Housing Assistance Programs Are Out There?

There are so many different programs available. Specifically, some HUD options include:

• Public Housing
• Housing Choice Voucher Program
• Good Neighbor Next Door (GNND) Program
• Housing Opportunities for Persons with AIDS (HOPWA)
• FHA Loans
• HUD Homes for Sale

Public Housing

The goal of public housing is to provide decent and safe rental housing to eligible households at an affordable rate. When people think of public housing, they usually just think of apartments. However, this type of housing support can come in different forms! For example, it can come in the form of a single-family home. While this is a HUD program, it is managed locally by housing agencies (HAs). That means the specific qualifications will be different depending on the location. However, local HAs will look at the following eligibility criteria when determining if an applicant qualifies:

• Citizenship Status
• Family Status
• Income Level
• References

References are important to keep in mind. That’s because even though someone may meet all the other qualifications, references can disqualify someone if they don’t check out. Local HAs use references as a way to determine whether or not an applicant will be a good neighbor in the community and to their fellow tenants. To begin the application process for this assistance program, you will want to get in touch with your local HA. If you are struggling to get in contact with them, then you can also reach out to your local HUD Field Office.

Housing Choice Voucher Program

Another housing assistance program is the Housing Choice Voucher Program. This program also goes by the name of Section 8! It is a program that can provide housing vouchers to eligible applicants. The vouchers would go towards covering a portion of housing expenses in the private market. Since the housing is in the private market, recipients have the option to choose where to live as long as the property accepts vouchers as a form of payment. However, the properties also need to meet guidelines set by the local Public Housing Authority (PHA). Even though it is a HUD program, PHAs are the ones responsible for managing and administering it. Just like with public housing, the specific eligibility points will vary depending on the location. However, PHAs look at factors like:

• Citizenship Status
• Family Status
• Income Level
• Criminal History
• Eviction History

To begin the application process, you will want to get in touch with your local PHA. You can also reach out to your local HUD Field Office if you need further assistance.

Good Neighbor Next Door (GNND) Program

It can be hard for people to buy a home due to how expensive they are. That is why the GNND program may be a great opportunity to help. This program can provide a 50% discount on the listing price of a house. Those that have an eligible profession of one of the following can benefit from this program:

• Emergency Medical Technicians (EMTs)
• Teachers (from pre-K up to 12th grade)
• Law Enforcement Officers
• Firefighters

Those that are in a qualifying profession will also need to live on the property for at least 36 months as their primary residence. Not only that, but the properties will need to be in certain revitalization areas that are available for sale specifically through the GNND program. If you want to benefit from these properties, you will need to find a property you want. Then you can follow the instructions to submit your interest. 

Housing Opportunities for Persons with AIDS (HOPWA)

While this isn’t a program that can benefit people directly, it can still assist. That’s because this program provides grants to sources that can provide housing support, social services, and more. Some sources that may receive these grants include local communities, non-profit organizations, states, etc. 

FHA Loans

One part of HUD is the Federal Housing Administration (FHA). This government agency insures loans that approved lenders give out to borrowers. By ensuring these loans, the FHA can lower the risk that lenders face. That’s because the FHA acts as a layer of protection against losses. It is able to provide protection by paying a claim to the lender for any remaining principal balance of the loan in case the borrower defaults. Borrowers can benefit from these loans because they have lower down payment requirements and credit score requirements than some conventional home loans. However, there are more than just standard FHA mortgages. Some other types of FHA mortgages include: 

• 203(k) Improvement Loans: This home loan comes with additional funds. The extra funds can be used towards home repair and renovations of the property.
• Energy Efficient Mortgages: This home loan also comes with extra funds. The additional funds can be used towards making the home energy efficient. 
• Home Equity Conversion Mortgages (HECMs): This is a type of reverse mortgage. Since it is a reverse mortgage, it is only meant for individuals that are 62 years old or older. Those that are able to get this mortgage can transform their home equity into cash while still keeping the title of their home.  
• Section 245(a) Loans: The mortgage of this home loan option starts off with a lower monthly payment. However, it will increase over time. That’s why this is a good option for homebuyers that expect their income to increase. 

HUD Homes for Sale

HUD does have some listings available at a discounted rate. The reason that these homes are cheaper than the standard market value is that they come from the foreclosure of an FHA loan. HUD Home listings are available to view at the HUD Home store. This is also a great resource for getting more information on the home buying process for these properties. The process of buying these properties is different from the standard home buying process. That’s because only government-registered brokers have the ability to sell them. 

Overall

When people need some housing support, they may be able to turn to HUD assistance options. There are a variety of different opportunities available that can help people with rentals, or even buying a home. That’s why it’s important to know what’s out there. There may be more support than you realize!