Homeownership and Affordable Housing: The Opportunities
This document describes seven types of HUD programs that have provided homeownership opportunities for low-income and moderate-income households. The Public Housing Homeownership Demonstration is designed to assist and encourage families living in public housing to purchase their units. The Turnkey III Homeownership Opportunity Program is a lease-purchase approach to help eligible low-income families purchase homes in certain public housing projects developed specifically for homeownership. The Mutual Help Homeownership Opportunity Program is a lease-purchase program for low-income Indian households. The Urban Homesteading Program was initially implemented by using HUD-held properties renovated and transferred to low-income persons who agree to repair, maintain, and occupy the property for a minimum of 5 consecutive years. The use of HUD-owned multifamily properties for low-income and moderate-income families involve negotiated sales to nonprofit entities for long-term maintenance as low-income and moderate-income housing. Under the Nehemiah Housing Opportunity Program, HUD can make grants to nonprofit organizations that can then provide loans to families purchasing homes constructed or rehabilitated in accordance with a HUD-approved program.