Section 8 Occupancy Handbook,   page 178
   Regulations and Comprehensive Index, 2004 Edition,    ISBN 1-59330-128-6
  By David Hoicka

  Section 8 Affordable Housing Handbook and Index
  Search this Section 8 website for housing key words and phrases

        This web page, reproduced from page 178 of the Section 8 Occupancy Handbook, shows where the following Keywords and Phrases are referenced in HUD Section 8 Regulations:
2002, Administrative, Administrative Fee, Allowable, Applicability, Assistance, Charges, Closing, Closing Costs, Concerning, Connection, Costs, Customary, Define, Difference, Discounts, Downpayment, Downpayment Assistance, Eighteen, Eighteen Months, Family, Familys, Federal Register, Fee, Fees, Fha, Financed, Financing, Grant, Grants, Home, Homeownership, Homeownership Assistance, Housing, Housing Choice Voucher, Hud, Implementation, In Accordance With, Including, Insurance, Insurance Requirements, Interest, Interest In The Home, Member, Member Of The Family, Months, Mortgage, Mortgage Insurance, Mortgages, Must, Not Exceed, Notice, Occupancy, One-time, Owns, Payment, Payment Standard, Permits, Pha, Pha Permits, Policies, Program, Program Requirements, Project-, Project-based, Project-based Rental, Project-based Rental Assistance, Publishes, Reasonable, Receipt, Receive, Received, Regarding, Register, Rental, Rental Assistance, Required, Requirements, Standard, Times, Title, Total Tenant Payment, Twelve, Unit, Voucher, Voucher Program.

participant that has received tenant-based or project-based rental assistance in the Housing Choice Voucher Program.

(2) The downpayment assistance grant must be applied toward the downpayment required in connection with the purchase of the home and/or reasonable and customary closing costs in connection with the purchase of the home.

(3) If the PHA permits the downpayment grant to be applied to closing costs, the PHA must define what fees and charges constitute reasonable and customary closing costs. However, if the purchase of a home is financed with FHA mortgage insurance, such financing is subject to FHA mortgage insurance requirements, including any requirements concerning closing costs (see Sec. 982.632(b) of this part regarding the applicability of FHA requirements to voucher homeownership assistance and Sec. 203.27 of this title regarding allowable fees, charges and discounts for FHA-insured mortgages).

(b) Maximum downpayment grant. A downpayment assistance grant may not exceed twelve times the difference between the payment standard and the total tenant payment.

(c) Payment of downpayment grant. The downpayment assistance grant shall be paid at the closing of the family's purchase of the home.

(d) Administrative fee. For each downpayment assistance grant made by the PHA, HUD will pay the PHA a one-time administrative fee in accordance with Sec. 982.152(a)(1)(iii).

(e) Return to tenant-based assistance. A family that has received a downpayment assistance grant may apply for and receive tenant-based rental assistance, in accordance with program requirements and PHA policies. However, the PHA may not commence tenant-based rental assistance for occupancy of the new unit so long as any member of the family owns any title or other interest in the home purchased with homeownership assistance. Further, eighteen months must have passed since the family's receipt of the downpayment assistance grant.

(f) Implementation of downpayment assistance grants. A PHA may not offer downpayment assistance under this paragraph until HUD publishes a notice in the Federal Register.

{67 FR 64494, Oct. 18, 2002}

Cite this page as:
"Hoicka, David. Section 8 Occupancy Handbook - Regulations and Comprehensive Index, 2004 Edition, ISBN 1-59330-128-6. San Diego, CA: Aventine Press, 2004, at page 178."

Read more information here.   Buy David Hoicka's Section 8 Handbook -- see the Amazon.com link above.

       The goal of this Section 8 Handbook and Index is to simplify Section 8 management, and save time for the busy Section 8 Administrator and Affordable Housing Professional, by making it easier to locate program rules and regulations by looking up key phrases.

       Look up a phrase, and this Index will show you where to find it in the HUD Regs.

       This Section 8 Handbook's Comprehensive Index includes 170 pages of major Section 8 Housing Regulations in current CFRs, and nearly 400 pages of comprehensive index, with about 6,300 entries, and over 120,000 references, organizing access to the main sources of regulatory and management control of Section 8 Housing Programs.

Links to Affordable Housing books
by David Hoicka

  <<< Previous Page

Home Page

Next Page >>>