Are you looking to own your own home? Are you thinking you may not have options or find opportunities to make this dream happen?
Renting vs. buying when it comes to housing is something to think about. In that process considerations towards affordable housing (no more than 30% of the household income) related to renting vs. buying options are to be thought through. Then decisions such urban vs. suburban, apartment vs. house, quiet vs. busy neighborhoods, transportation accessible or not etc., all of these factors play into making your decision. Whether your situation is immediate or not, giving thought to housing needs are important to providing peace of mind.
Should the opportunity to be placed on a housing wait list occur use the information contained in this link for assistance. Do you qualify for Section 8? Use this link to find out how to obtain housing vouchers quickly. Do you know that Section 8 vouchers can be used to assist with paying a mortgage? Use this link to find out how.
When it comes to housing there are various options to consider, you may have heard of conventional lending options from your bank or governmental options supplied by HUD but have you heard of NACA? NACA (Neighborhood Assistance Corporation of America) describes themselves as “…a non-profit, community advocacy and homeownership organization.
Another option to consider the FHA Home Loan programs. What do these programs offer? They offer the option of low-down payments, low closing costs and easy credit qualifying. The down payment may be as low as 3.5% of the purchase price and can be used to purchase 1–4-unit properties. If you need down payment assistance the FHA has options available as well.
Section 8 be useful for your housing needs. If appropriate housing becomes available, but the cost is unaffordable the housing may be eligible to receive federal housing funds. If that is the case then Section 8 housing vouchers may help you in your quest. There are some requirements such as rental units must meet minimum standards of health and safety, as determined by the public housing agency(PHA).
