Programs for Seniors Sponsored by HUD Grants
The United States Department of Housing and Urban Development provides affordable housing for citizens across the country. They also provide funding programs for rent assistance, home ownership, and assistive services for seniors and the disabled.
HUD Programs for Seniors
HUD helps more than 900,000 seniors find affordable housing through their programs: public housing, multifamily subsidized housing, and housing vouchers. If your senior or loved one is looking for affordable housing but is on a low-income, you may want to find your local Public Housing Agency (PHA) for more information.
Housing Choice Voucher Program
The Housing Choice Voucher Program (HCVP), formerly Section 8, is the largest assisted living housing program administered by HUD. This program offers rent vouchers for housing to low-income individuals, families, the elderly, and the disabled.
Housing options will vary depending on location but can include single-family homes, townhouses, and apartments.
There are two different types of rent vouchers, tenant-based and project-based. The tenant-based vouchers are given to and move with the renter. Project-based vouchers, on the other hand, are assigned to a specific unit or building and are not transferable if the tenant moves from the property.
Eligibility for the HCVP
While there is no age requirement to be eligible for these vouchers, they are to assist families or individuals with very low income. Generally, the household income may not exceed 50 percent of median income in the area the family chooses to live.
Beyond the family income limit, the PHA will also collect other information including family composition, pensions, retirement accounts, IRAs, and assets like real estate or cars.
The HUD created this program to help first-time homebuyers who need help to meet a monthly mortgage payment or other related expenses. These expenses may include:
- Mortgage principal and interest
- Mortgage insurance
- Real estate taxes
- Homeowners insurance
It is important to know that not all PHAs offer this program. You will need to contact your local PHA to determine if they do, or do not.
Eligibility for the Homeownership Vouchers
There are a number of eligibility requirements that families need to meet in order to get a homeownership voucher:
- First-time homeowner
- No family member has owned or had ownership interest in the residence for at least three years
- No family member has had any ownership interest in any residential property
- Minimum income requirement (Except in case of disabled families)
- Must be employed (Except in case of elderly or disabled)
- Must complete PHA homeownership counseling
- Any other requirement set by PHA
Families will be required to pay at least the total tenant payment, which is generally 30 percent of adjusted monthly income. PHAs may set affordability limits to make sure families can afford the home.
Programs for Current Homeowners Who Need Help
If your senior owns their home but needs help with their mortgage, HUD may be able to assist with the following:
- Lowering payments
- Lowering interest payments
- Help with paying a second mortgage
- Help with a fallen home value
- Mortgage modification
For more information, please visit www.MakingHomeAffordable.gov.
Section 202: Supportive Housing for the Elderly
This program was designed to expand the amount of affordable housing with supportive services for seniors. It was developed to allow very low-income seniors to live as independently as possible, while still receiving services like cooking, cleaning, and transportation.
The types of services vary by housing community. This is the only program to offer affordable housing exclusively to seniors. It provides funds to private nonprofit organizations to finance the construction of supportive housing, and also rent subsidies.
This program is supplemental, and does not pay the full month of rent and also does not cover any utility bills. Seniors or their families will be responsible for paying money towards their monthly rent.
Eligibility for Elderly Supportive Housing
To be considered for Section 202 housing, the household income should be very low, and at least one resident should be over the age of 62.
Seniors that are part of 202 Section housing will pay no more than 30 percent of their total housing for their monthly rent. Vouchers can be applied toward any housing expense for approved homes or apartment development that accepts HUD funds.
Congregate Housing Service Program
The Congregate Housing Service Program (CSHP) is beneficial for seniors because it was created to avoid the premature or unnecessary institutionalization of frail elderly, non-elderly disables and temporarily disabled people.
This program is very limited, providing funding to just 51 PHAs and private assisted housing owners. However, also provided are a variety of supportive services, which may include:
- At least one hot meal per day in a group setting 7 days a week
- Personal assistance
- Social services
For more information on any of these programs visit your local PHA or the HUD website.