Subsidized Home Acquisition

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The structure of the services index and definitions of the terms contained herein were originally published in A Taxonomy of Human Services: A Conceptual Framework with Standardized Terminology and Definitions for the Field by the Information and Referral Federation of Los Angeles County, Inc., 3035 Tyler Ave., El Monte, CA 91731; Copyright (c) 1983, 1987, 1991. No part of this listing of human services terms and definitions may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electrical, mechanical, photocopying, recording or otherwise without the prior written permission of the Information and Referral Federation of Los Angeles County, Inc.

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Taxonomy Code: BH-7000.8100

Programs that make housing more readily available to middle or low-income individuals and families or other identified groups by offering lower priced or cooperative housing and/or affordable payment plans, arranging for interest or mortgage subsidies for people who qualify on the basis of income, or by providing mortgage-free homes, generally for designated populations.

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There are 3 matching records.
Service NameDescriptionLocationProgramAgency
Homeowner's ProgramAllows first-time homeowners to use a voucher option to meet monthly homeownership expenses rather than pay rent. Existing housing voucher participants and/or new admissions may be assisted under our homeownership option. A family who meets eligibility requirements can own their own home with HANC’s assistance in securing financing. The home must pass an initial housing quality standards inspection conducted by the PHA and an independent home inspection before the PHA may approve purchase by the family.NorthumberlandHomeowner's ProgramHousing Authority of Northumberland County
United States Department of Defense - Homeowners Assistance ProgramThe Department of Defense's Homeowners Assistance Program provides financial assistance to service members and certain DoD civilian homeowners who suffer financial loss on the sale of their primary residences. HAP consists of BRAC Impacted Personnel or Wounded, Injured, or Ill and Surviving Spouse applicants. At this time, applications are only being accepted from Wounded, Injured, or Ill and Surviving Spouse applicants. If an applicant is eligible under the Wounded, Injured, and Ill or Surviving Spouse categories and money is available, HAP may provide financial assistance under one of the following three scenarios: Private Sale, Government Acquisition, or Foreclosure:
  • Private Sale: Benefit amount is the difference between 95% of the home’s prior fair market value and the selling price. HAP may also reimburse the applicant for normal and customary seller’s closing costs;
  • Government Acquisition: Benefit amount is the greater of 90% of the home’s prior fair market value OR the mortgage(s) payoff amount;
  • Foreclosure: Benefit is paid to the lien holder for legally enforceable liabilities.
United States Department of DefenseUnited States Department of Defense
Y Community Development Corporation (CDC), York BranchAffordable housing units for rent or for saleYorkYMCA of York County, York BranchYMCA of York County

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