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Low income housing is a good option for people to get homes at a subsidized rate. Getting this aid, needs you to meet certain requirements. Read on to find out more about low income housing and how to go about getting it.
Affordable housing for lower income households, through subsidies, is provided by the federal government. This housing assistance for lower income households is divided into three parts – “Tenant based” subsidies that are given to an individual household; “Project based” subsidies are given to the owner of housing units that must be rented to lower income households at affordable rates, and “Public Housing”, which is usually owned and operated by the government.
Authorized by Section 8 of the Housing Act of 1937, Section 8 housing is a government program. Families that fall in the income group of less than 50% area median income are eligible to get rental assistance from the government. This money is paid directly to their landlord. Housing Choice Voucher Program is a big part of this program, and this allows families to choose their housing dependent on some criteria.
HUD will verify your income (80%, 50% or 30% of the area median income) to see if you qualify for assistance. IRS tax returns and recent pay stubs is the documentation you will need. When you do get into a public housing or Section 8 unit, the department will check your income documents annually to verify your continued eligibility.
The HUD’s 202 program provides subsidy assistance for senior housing. The assistance is provided in two ways. Funds can be provided to non-profit organizations so they can build and maintain family units for senior citizens and aprovide supportive services. The other way is to provide tenants with rent subsidies.
Public Housing Authority (PHA), has laid down some laws that those approved for housing must follow. Obligations include finding eligible housing within the PHA’s jurisdiction, paying a security deposit and a portion of the rent and abiding by the terms and conditions set by the landlord in the lease agreement. Tenants are also obligated to intimate the PHA about any changes in family size, income or moving to another location.
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