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Reaching the Dream -- HUD Programs
The aim of the HUD Center for Faith-Based and Community Initiatives
(CFBCI) is to engage faith-based and other community-based organizations
in HUD's mission of providing a decent, safe, and sanitary home
and suitable living environment for every American. CFBCI is committed
to helping fulfill President Bush's vision of mobilizing the armies
of compassion to strengthen America's communities. To this end,
CFBCI wants faith-based and community organizations (FBCOs) across
the country to have access to its various funding programs. Following
is an overview of HUD's homeownership and home-buying programs available
to FBCOs and their constituents, either directly or through State
and/or local governments.
Single Family Housing
A multitude of single-family housing programs are available through
HUD. Below is a brief overview of several loan programs:
- Mortgage Insurance for One- to Four-Family Homes, Section
203(b)-Through this program, HUD's Federal Housing Administration
(FHA) insures mortgages made by qualified lenders to people purchasing
or refinancing a home of their own. This program provides mortgage
insurance to protect lenders against the risk of default on loans
to qualified buyers. Eligible grantees include FHA-approved lending
institutions, such as banks, mortgage companies, and savings and
loan associations. Eligible customers include anyone intending
to use the mortgaged property as their primary residence.
- Mortgage Insurance for Low/Mod-Income Buyers, Section 221(d)(2)-This
program insures mortgage loans made by private lenders to finance
the purchase, construction, or rehabilitation of low-cost, one-
to four-family housing. All households applying for mortgage loans
below the allowable maximum amount are eligible for the program.
- Mortgage Insurance for Older, Declining Areas, Section 223(e)-Section
223(e) provides mortgage insurance to enable people to purchase
or rehabilitate housing in older, declining urban areas. Section
223(e) can be used only to supplement other HUD mortgage insurance
programs. HUD-approved lenders, such as banks, mortgage companies,
and savings and loan associations, can make insured loans for
single-family mortgages under other FHA programs, which HUD processors
may then elect to insure under Section 223(e). Individuals and
families whose property is located in an older, declining urban
area are eligible to apply.
- Rehabilitation Mortgage Insurance, Section 203(k)-Section
203(k) insurance enables home buyers and homeowners to finance
both the purchase (or refinancing) of a house and the cost of
its rehabilitation through a single mortgage-or to finance the
rehabilitation of their existing home. FHA-approved lending institutions,
which include many banks, savings and loan associations, and mortgage
companies, can make loans covered by Section 203(k) insurance.
All persons who can make the monthly mortgage payments are eligible
to apply.
- Single-Family Cooperative Mortgage Insurance, Section 203(n)-The
Section 203(n) program insures loans for persons buying a unit
in a cooperative housing project. The loan is made by a lending
institution, such as a mortgage company, bank, or savings and
loan association, and is insured by HUD's FHA. FHA-approved lending
institutions can make insured loans under Section 203(n) through
HUD Field Offices.
- Manufactured Home Loan Insurance (Title I)-This program
insures mortgage loans made by private lending institutions to
finance the purchase of a new or used manufactured home. Private
lending institutions are eligible for insurance on loans made
under the program. All buyers who plan to use the manufactured
home as their principal place of residence are eligible for the
program.
- Manufactured Home Lot and Combination Loan Insurance-This
program insures mortgage loans made by private lenders to buyers
of manufactured homes and the lots on which to place them. Private
lending institutions are eligible for insurance on loans made
under the program. All buyers of manufactured homes who plan to
use the homes as their principal residence are eligible for the
program.
Public Housing
The public housing program comprises several categories, including
development/redevelopment, homeownership, and Section 8 assistance.
Development/Redevelopment
- Public Housing Development-The Public Housing Development
program provides Federal grants to local public housing authorities
(PHAs) to develop housing for low-income families who cannot afford
housing in the private market.
- Major Reconstruction of Obsolete Projects (MROP)-MROP
is part of HUD's development program for public housing, providing
that up to 20 percent of development funds may be used for major
reconstruction of obsolete public housing projects. The housing
must benefit lower-income families composed of citizens or eligible
immigrants.
- Hope VI-Since 1993, HOPE VI has been the engine driving
the revitalization of the nation's most distressed public housing
developments by providing grants and unprecedented flexibility
to address the housing and social service needs of their residents.
Any public housing authority (PHA) that operates public housing
units is eligible to apply for HOPE VI grants. HOPE VI programs
benefit current public housing residents, residents of revitalized
public housing units, and communities surrounding revitalized
sites.
Homeownership
- Homeownership and Opportunity for People Everywhere (Hope
I)-HOPE I helps low-income people buy public housing units
by providing funds that nonprofit organizations, resident groups,
and other eligible grantees can use to develop and implement homeownership
programs. Eligible HOPE applicants include public housing authorities,
resident management corporations, resident councils, nonprofit
organizations, housing cooperatives, and public entities.
- Section 5(h) Homeownership-The Section 5(h) homeownership
program offers PHAs a flexible way to sell public housing units
to low-income families. Public housing agencies can apply for
this program, and low-income families who are able to purchase
their homes under this program are its primary beneficiaries.
Section 8 Assistance
- Housing Choice Voucher Program-The housing choice voucher
program is the Federal Government's major program for assisting
very low-income families, the elderly, and the disabled to afford
decent, safe, and sanitary housing in the private market. Eligibility
for a housing voucher is determined by the PHA based on the total
annual gross income and family size and is limited to U.S. citizens
and specified categories of noncitizens who have eligible immigration
status.
- Section 8 Assistance for Public Housing Relocation/Replacement-Section
8 certificates or vouchers may be allocated to public housing
tenants forced to move because of rehabilitation or demolition
of their public housing unit.
Community Planning and Development
There are several categories within the community planning and
development program, including community development, economic development,
affordable housing, and technical assistance.
Community Development-CDBG
- Community Development Block Grants to Entitlement Communities-This
program provides annual grants on a formula basis to entitled
cities and counties to develop viable urban communities by providing
decent housing and a suitable living environment, and by expanding
economic opportunities, principally for low- and moderate-income
persons. Central cities of Metropolitan Statistical Areas (MSAs),
other metropolitan cities with populations of at least 50,000,
and qualified urban counties with populations of at least 200,000
are entitled to receive annual grants.
Economic Development
- Community Renewal for America's Renewal Communities (RCs),
Urban Empowerment Zones (EZs), and Enterprise Communities (ECs)-HUD
reenergized this initiative in December 2001 by designating 40
urban and rural RCs and 8 new urban EZs. These new designees are
able to use a remarkable $22 billion tax-incentive package to
open new businesses, provide thousands of new jobs, rehab and
build new housing, and change lives in urban and rural areas throughout
the nation.
Affordable Housing
- Self-Help Homeownership Opportunity Program (SHOP)-SHOP
provides funds for eligible nonprofit organizations to purchase
home sites and develop or improve the infrastructure needed to
set the stage for sweat equity and volunteer-based homeownership
programs for low-income persons and families.
- Homeownership Zones (HOZs)-The Homeownership Zone Initiative
allows communities to reclaim vacant and blighted properties,
increase homeownership, and promote economic revitalization by
creating entire neighborhoods of new single-family homes called
Homeownership Zones.
Technical Assistance
- Capacity Building for Community Development and Affordable
Housing (National Community Development Initiative)-The Community
Planning and Development technical assistance program demonstrates
HUD's commitment to providing front-end assistance to help grassroots
organizations-our partners-successfully access and utilize HUD's
programs and resources.
Content Archived: June 23, 2010
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U.S. Department of Housing and Urban Development 451 7th Street S.W. Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 |
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