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 ...
applies if at any time during receipt of homeownership assistance the family qualifies as adisabled family.If, during the course of homeownership assistance, the family ceases to qualify as a disabled orelderly family, the maximum term becomes applicable from the date homeownership assistancecommenced. However, such a family must be provided at least 6 months of homeownershipassistance after the maximum term becomes applicable (provided the family is otherwise eligibleto receive homeownership assistance).If the family has received such assistance for different homes, or from different PHAs, the totalof such assistance terms is subject to the maximum term described in this part.15-VII.K. HOMEOWNERSHIP ASSISTANCE PAYMENTS AND HOMEOWNERSHIPEXPENSES [24 CFR 982.635]The monthly homeownership assistance payment is the lower of: the voucher payment standardminus the total tenant payment, or the monthly homeownership expenses minus the total tenantpayment.In determining the amount of the homeownership assistance payment, SAHA will use the samepayment standard schedule, payment standard amounts, and subsidy standards as those describedin elsewhere in this plan for the Housing Choice Voucher program.The payment standard will be the greater of the payment standard at commencement ofhomeownership assistance or payment standard at the most recent reexamination sincecommencement of homeownership assistance.SAHA may pay the homeownership assistance payments directly to the family, or at SAHA’sdiscretion, to a lender on behalf of the family. If the assistance payment exceeds the amount dueto the lender, SAHA must pay the excess directly to the family.Homeownership assistance for a family terminates automatically 180 calendar days after the lasthomeownership assistance payment on behalf of the family. However, SAHA may grant relieffrom this requirement in those cases where automatic termination would result in extremehardship for the family.SAHA must adopt policies for determining the amount of homeownership expenses to beallowed by SAHA in accordance with HUD requirements.Homeownership expenses (not including cooperatives) only include amounts allowed by SAHAto cover:• Principal and interest on initial mortgage debt, any refinancing of such debt, and anymortgage insurance premium incurred to finance purchase of the home;• Real estate taxes and public assessments on the home;• Home insurance;• SAHA allowance for maintenance expenses;• SAHA allowance for costs of major repairs and replacements;• SAHA utility allowance for the home;© Copyright 2006 Nan McKay & Associates, Inc. Page 15-20Adminplan 12/1/06Unlimited copies may be made for internal use.
• Principal and interest on mortgage debt incurred to finance costs for major repairs,replacements or improvements for the home. If a member of the family is a person withdisabilities, such debt may include debt incurred by the family to finance costs needed tomake the home accessible for such person, if SAHA determines that allowance of such costsas homeownership expenses is needed as a reasonable accommodation so that thehomeownership option is readily accessible to and usable by such person;• Land lease payments where a family does not own fee title to the real property on which thehome is located; [see 24 CFR 982.628(b)].• For a condominium unit, condominium operating charges or maintenance fees assessed bythe condominium homeowner association.Homeownership expenses for a cooperative member may only include amounts allowed bySAHA to cover:• The cooperative charge under the cooperative occupancy agreement including payment forreal estate taxes and public assessments on the home;• Principal and interest on initial debt incurred to finance purchase of cooperative membershipshares and any refinancing of such debt;• Home insurance;• SAHA allowance for maintenance expenses;• SAHA allowance for costs of major repairs and replacements;• SAHA utility allowance for the home; and• Principal and interest on debt incurred to finance major repairs, replacements orimprovements for the home. If a member of the family is a person with disabilities, such debtmay include debt incurred by the family to finance costs needed to make the home accessiblefor such person, if SAHA determines that allowance of such costs as homeownershipexpenses is needed as a reasonable accommodation so that the homeownership option isreadily accessible to and usable by such person.• Cooperative operating charges or maintenance fees assessed by the cooperative homeownerassociation.SAHA PolicySAHA’s housing assistance payment will be paid directly to the lender unless the mortgagecompany refuses to accept payments from more than one source. In such case, SAHA’shousing assistance payment will be paid directly to the family. If the assistance paymentexceeds the amount due to the lender, SAHA must pay the excess directly to the family.SAHA will allow the following homeownership expenses:Monthly homeownership payment. This includes principal and interest on initial mortgagedebt, taxes and insurance, and any mortgage insurance premium, if applicable.Utility Allowance. SAHA’s utility allowance for the unit, based on the current HCV utilityallowance schedule.© Copyright 2006 Nan McKay & Associates, Inc. Page 15-21Adminplan 12/1/06Unlimited copies may be made for internal use.
- Page 5 and 6: 15-III.A. OVERVIEWPART III: GROUP H
- Page 7 and 8: 15-IV.A. OVERVIEWPART IV: SHARED HO
- Page 9 and 10: 15-V.A. OVERVIEWPART V: COOPERATIVE
- Page 11 and 12: Space RentThe space rent is the sum
- Page 13 and 14: income of adult family members who
- Page 15 and 16: • The unit must be a one-unit pro
- Page 17 and 18: 15-VII.G. HOME INSPECTIONS, CONTRAC
- Page 19: month when the family moves out. Th
- Page 23: SAHA PolicyFor families participati
applies if at any time during receipt of homeownership assistance the family qualifies as adisabled family.If, during the course of homeownership assistance, the family ceases to qualify as a disabled orelderly family, the maximum term becomes applicable from the date homeownership assistancecommenced. However, such a family must be provided at least 6 months of homeownershipassistance after the maximum term becomes applicable (provided the family is otherwise eligibleto receive homeownership assistance).If the family has received such assistance for different homes, or from different PHAs, the totalof such assistance terms is subject to the maximum term described in this part.<strong>15</strong>-VII.K. HOMEOWNERSHIP ASSISTANCE PAYMENTS AND HOMEOWNERSHIPEXPENSES [<strong>24</strong> <strong>CFR</strong> <strong>982</strong>.635]The monthly homeownership assistance payment is the lower of: the voucher payment standardminus the total tenant payment, or the monthly homeownership expenses minus the total tenantpayment.In determining the amount of the homeownership assistance payment, SAHA will use the samepayment standard schedule, payment standard amounts, and subsidy standards as those describedin elsewhere in this plan for the Housing Choice Voucher program.The payment standard will be the greater of the payment standard at commencement ofhomeownership assistance or payment standard at the most recent reexamination sincecommencement of homeownership assistance.SAHA may pay the homeownership assistance payments directly to the family, or at SAHA’sdiscretion, to a lender on behalf of the family. If the assistance payment exceeds the amount dueto the lender, SAHA must pay the excess directly to the family.Homeownership assistance for a family terminates automatically 180 calendar days after the lasthomeownership assistance payment on behalf of the family. However, SAHA may grant relieffrom this requirement in those cases where automatic termination would result in extremehardship for the family.SAHA must adopt policies for determining the amount of homeownership expenses to beallowed by SAHA in accordance with HUD requirements.Homeownership expenses (not including cooperatives) only include amounts allowed by SAHAto cover:• Principal and interest on initial mortgage debt, any refinancing of such debt, and anymortgage insurance premium incurred to finance purchase of the home;• Real estate taxes and public assessments on the home;• Home insurance;• SAHA allowance for maintenance expenses;• SAHA allowance for costs of major repairs and replacements;• SAHA utility allowance for the home;© Copyright 2006 Nan McKay & Associates, Inc. <strong>Page</strong> <strong>15</strong>-20Adminplan 12/1/06Unlimited copies may be made for internal use.
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