Page 15-1 Chapter 15 SPECIAL HOUSING TYPES [24 CFR 982 ...
Page 15-1 Chapter 15 SPECIAL HOUSING TYPES [24 CFR 982 ... Page 15-1 Chapter 15 SPECIAL HOUSING TYPES [24 CFR 982 ...
PART VII: HOMEOWNERSHIP[24 CFR 982.625 through 982.643]15-VII.A. OVERVIEW [24 CFR 982.625]The homeownership option is used to assist a family residing in a home purchased and owned byone or more members of the family. A family assisted under this option may be newly admittedor an existing participant in the HCV program. SAHA must have the capacity to operate asuccessful HCV homeownership program as defined by the regulations.There are two forms of homeownership assistance SAHA may offer under this option: monthlyhomeownership assistance payments, or a single down payment assistance grant. SAHA maychoose to offer either or both forms of homeownership assistance, or choose not to offer either.SAHA must offer either form of homeownership assistance if needed as a reasonableaccommodation so that the program is readily accessible to and usable by persons withdisabilities. It is the sole responsibility of SAHA to determine whether it is reasonable toimplement a homeownership program as a reasonable accommodation. SAHA must determinewhat is reasonable based on the specific circumstances and individual needs of the person with adisability. SAHA may determine that it is not reasonable to offer homeownership assistance as areasonable accommodation in cases where SAHA has otherwise opted not to implement ahomeownership program.SAHA must approve a live-in aide if needed as a reasonable accommodation so that the programis readily accessible to and usable by persons with disabilities.SAHA PolicySAHA has instituted a minimum homeowner down payment requirement of at least threepercent of the purchase price, and requires that at least one percent of the purchase pricecome from the family’s personal resources.SAHA will offer the monthly homeownership assistance payments to qualified families.15-VII.B. FAMILY ELIGIBILITY [24 CFR 982.627]The family must meet all of the requirements listed below before the commencement ofhomeownership assistance. SAHA may also establish additional initial requirements as long asthey are described in SAHA’s administrative plan.• The family must have been admitted to the Housing Choice Voucher program and in goodstanding for at least one year.• The homeownership option will be included in all Briefing and Re-Housing classes as well asmedia and community announcements. Current Section 8 participants must be in compliancewith their lease and program requirements and must terminate their current lease arrangementin compliance with the lease.• The family must qualify as a first-time homeowner, or may be a cooperative member.• The family must meet the Federal minimum income requirement. The family must have agross annual income equal to the Federal minimum wage multiplied by 2000, based on the© Copyright 2006 Nan McKay & Associates, Inc. Page 15-12Adminplan 12/1/06Unlimited copies may be made for internal use.
income of adult family members who will own the home. SAHA may establish a higherincome standard for families. However, a family that meets the federal minimum incomerequirement (but not SAHA's requirement) will be considered to meet the minimum incomerequirement if it can demonstrate that it has been pre-qualified or pre-approved for financingthat is sufficient to purchase an eligible unit.• Public assistance income may not be used for meeting the minimum income requirement,except for households in which the head or co-head is elderly or disabled and households thatinclude a disabled person other than head or co-head. (Public Assistance includes federalhousing assistance or the housing component of a welfare grant; TANF assistance; SSI that issubject to an income eligibility test; food stamps; general assistance or other assistanceprovided under a Federal, state or local program that provides assistance available to meetfamily living or housing expenses.)• For disabled families, the minimum income requirement is equal to the current SSI monthlypayment for an individual living alone, multiplied by 12.• For elderly or disabled families, welfare assistance payments for adult family members whowill own the home will be included in determining whether the family meets the minimumincome requirement. It will not be included for other families.• The family must satisfy the employment requirements by demonstrating that one or moreadult members of the family who will own the home at commencement of homeownershipassistance is currently employed on a full-time basis (the term 'full-time employment' meansnot less than an average of 30 hours per week); and has been continuously so employedduring the year before commencement of homeownership assistance for the family.• The employment requirement does not apply to elderly and disabled families. In addition, if afamily, other than an elderly or disabled family includes a person with disabilities, SAHAmust grant an exemption from the employment requirement if SAHA determines that it isneeded as a reasonable accommodation.• The family has not defaulted on a mortgage securing debt to purchase a home under thehomeownership option• Except for cooperative members who have acquired cooperative membership shares prior tocommencement of homeownership assistance, no family member has a present ownershipinterest in a residence at the commencement of homeownership assistance for the purchase ofany home.• Except for cooperative members who have acquired cooperative membership shares prior tothe commencement of homeownership assistance, the family has entered a contract of sale inaccordance with 24 CFR 982.631(c).SAHA PolicyFor disabled and elderly families, there will be no additional minimum income requirement.The requirements of 982.627(c)(3) will be applicable.Families will be considered “continuously employed” if the break in employment does notexceed four months.© Copyright 2006 Nan McKay & Associates, Inc. Page 15-13Adminplan 12/1/06Unlimited copies may be made for internal use.
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- Page 9 and 10: 15-V.A. OVERVIEWPART V: COOPERATIVE
- Page 11: Space RentThe space rent is the sum
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- Page 19 and 20: month when the family moves out. Th
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income of adult family members who will own the home. SAHA may establish a higherincome standard for families. However, a family that meets the federal minimum incomerequirement (but not SAHA's requirement) will be considered to meet the minimum incomerequirement if it can demonstrate that it has been pre-qualified or pre-approved for financingthat is sufficient to purchase an eligible unit.• Public assistance income may not be used for meeting the minimum income requirement,except for households in which the head or co-head is elderly or disabled and households thatinclude a disabled person other than head or co-head. (Public Assistance includes federalhousing assistance or the housing component of a welfare grant; TANF assistance; SSI that issubject to an income eligibility test; food stamps; general assistance or other assistanceprovided under a Federal, state or local program that provides assistance available to meetfamily living or housing expenses.)• For disabled families, the minimum income requirement is equal to the current SSI monthlypayment for an individual living alone, multiplied by 12.• For elderly or disabled families, welfare assistance payments for adult family members whowill own the home will be included in determining whether the family meets the minimumincome requirement. It will not be included for other families.• The family must satisfy the employment requirements by demonstrating that one or moreadult members of the family who will own the home at commencement of homeownershipassistance is currently employed on a full-time basis (the term 'full-time employment' meansnot less than an average of 30 hours per week); and has been continuously so employedduring the year before commencement of homeownership assistance for the family.• The employment requirement does not apply to elderly and disabled families. In addition, if afamily, other than an elderly or disabled family includes a person with disabilities, SAHAmust grant an exemption from the employment requirement if SAHA determines that it isneeded as a reasonable accommodation.• The family has not defaulted on a mortgage securing debt to purchase a home under thehomeownership option• Except for cooperative members who have acquired cooperative membership shares prior tocommencement of homeownership assistance, no family member has a present ownershipinterest in a residence at the commencement of homeownership assistance for the purchase ofany home.• Except for cooperative members who have acquired cooperative membership shares prior tothe commencement of homeownership assistance, the family has entered a contract of sale inaccordance with <strong>24</strong> <strong>CFR</strong> <strong>982</strong>.631(c).SAHA PolicyFor disabled and elderly families, there will be no additional minimum income requirement.The requirements of <strong>982</strong>.627(c)(3) will be applicable.Families will be considered “continuously employed” if the break in employment does notexceed four months.© Copyright 2006 Nan McKay & Associates, Inc. <strong>Page</strong> <strong>15</strong>-13Adminplan 12/1/06Unlimited copies may be made for internal use.
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