The financial challenges people have been facing lately in the U.S. are enough reasons to seek help. This is especially the case with large families who have low incomes. Most of the time, those families seek assistance to maintain an acceptable level of basic needs. Those needs may include housing, medical care, food, etc. Everyone’s circumstances are different, so there should be various support options to provide as much assistance as possible to those in need. Fortunately, the government and many private organizations realize how much of a difference support options can make in people’s lives. For this reason, they offer hundreds of helpful programs to protect needy people from falling apart. In this article, we will focus on the available housing assistance opportunities and how to take advantage of them.
Federal and Private Housing Support Options for People in Need
A large number of people might find it hard to keep a roof over their heads. Although this might sound miserable, it doesn’t have to be this way. There are several opportunities to get assistance with housing costs. We are talking about assistance with rent, home buying, and more. When looking for housing support, you should consider the following options:
- Supportive Housing
- Public Housing
- Section 8 (Housing Choice Voucher Program)
- FHA Loans
- Good Neighbor Next Door (GNND) Program
Supportive Housing is an umbrella term for multiple housing options that aim to reduce homelessness and help people who don’t have a secure home find a place to stay. People with different levels of need may turn to supportive housing for various reasons. This option provides a variety of services through the following types of housing:
- Permanent Supportive Housing (PSH)
- Rapid Re-Housing (RRH)
- Transitional Shelters
Permanent Supportive Housing (PSH)
Chronically homeless people can get Permanent Supportive Housing. This includes those who had spent a specific period of time in safe havens, emergency shelters, institutional care facilities, or unsuitable environments for humans. This option can provide long-term housing and supportive services to those in need. It is a housing-first solution, which means that it aims to get people into safe homes as soon as possible.
Rapid Re-Housing (RRH)
People who are not often homeless are the top focus of RRH. This option offers temporary assistance in the form of community services. It’s another housing-first solution with different objectives and services. Its goal is to assist individuals and families in finding affordable housing as quick as possible.
Homeless people, addicts in recovery, and victims of domestic abuse are a few types of people that could benefit from transitional shelters. Residents living in these shelters will also receive resources and assistance. This is due to the shelter wanting to get as many people off the street as they can. These resources can help with employment, health, and other aspects of their lives. Typically, transitional shelters may allow their residents to stay for six months to two years.
For more stability, the HUD provides rentals at affordable prices to low-income people through the Public Housing program. However, this program is not open to just anyone. In fact, it takes into account a few factors to determine a family’s eligibility. You will need to contact your local public housing agency (PHA) to find out. Local PHAs are the agencies responsible for running the program in the states, processing the applications, and providing information and assistance to applicants. It’s possible to encounter some differences in the program’s rules and requirements depending on your area.
Section 8 (Housing Choice Voucher Program)
When you contact your local PHA to learn about Public Housing, don’t forget to ask about the Section 8 program, or the Housing Choice Voucher Program. PHAs manage this program at the state level despite being funded by HUD. It’s another excellent opportunity for those who are looking for affordable rentals, but in the private market. Section 8 can help eligible people by covering a portion of their monthly rent with housing vouchers. Some states may approve using these vouchers to purchase a house under certain conditions.
Taking part in this program requires meeting some eligibility requirements since it aims to help people with low incomes. These requirements may vary by state, so you need to contact your PHA to have a clear understanding of what you should expect. On top of all of that, you should keep in mind that the rental you choose must meet HUD standards. In order to see if the chosen property qualifies for the program, HUD carries out an inspection. Also, to be able to use the program’s benefits, you need to make sure that the landlord accepts the housing vouchers as a payment method.
Buying a house with only a 3.5% down payment is possible with FHA loans. This might sound too good to be true, but it’s an actual support opportunity that the government provides. To make this opportunity available, the Federal Housing Administration (FHA) insures loans from approved private lenders. This way, lenders can have more protection against losses. Besides the low down payment that comes with these loans, they also offer more flexibility when it comes to eligibility requirements compared to conventional loans.
Good Neighbor Next Door (GNND) Program
This program offers a terrific opportunity to save 50% of a property’s price! However, it’s exclusively available to a specific group of people. Only those who have a job in an eligible profession can take advantage of the GNND program.
Aside from that, participants must use the property as their main residence. More information about this program and its eligibility requirements is available online. If you want to find out more about it or check out the available listings, you should visit the HUD Home Store website.
From rent to home buying, housing expenses can be difficult to handle for many Americans. However, with the right support option, this expense might be less of a burden. The type of support that everyone needs can vary depending on their circumstances. Therefore, plenty of assistance opportunities were created. However, people might be in need but don’t know what’s available for them. For this reason, it’s important to check out as many resources as possible to find out how to get out of your hardship. There are several resources to look for housing assistance, including:
- Your local PHA
- Online research
- The HUD Home Store
- Your local 2-1-1
When you get housing support, you will be able to save money for other necessities like grocery bills, transportation, clothing, etc. This will have a great impact on your financial situation and overall life!