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Homeownership and Affordable Housing: The Opportunities

Release Date: 
February 1990 (41 pages)
Posted Date:   
February 1, 1990

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.

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Note: Guidance documents, except when based on statutory or regulatory authority or law, do not have the force and effect of law and are not meant to bind the public in any way. Guidance documents are intended only to provide clarity to the public regarding existing requirements under the law or agency policies.