Is a displaced person whose rental assistance payment is determined to be zero, eligible for a downpayment assistance payment for the purchase of a replacement home?
Yes. Any eligible displaced person whose rental assistance payment is determined to be zero may qualify for downpayment assistance of up to $5,250 at the agency’s discretion. One of the objectives of the Uniform Act is to provide assistance to displaced tenants in order to become homeowners. The regulation provides that any rental assistance payment that is calculated to be less than $5,250, and is to be used for downpayment assistance, may be increased to any amount not to exceed $5,250 as a downpayment, at the agency’s discretion. If the agency elects to provide the maximum payment of $5,250 as a downpayment, the agency must apply this policy in a uniform and consistent manner, so that eligible displaced persons in like circumstances are treated equally. The full amount of the downpayment assistance must be applied towards the purchase price of the replacement dwelling and related incidental expenses. The agency must also provide relocation advisory services in compliance with §24.20
Yes. Any eligible displaced person whose rental assistance payment is determined to be zero may qualify for downpayment assistance of up to $5,250 at the agency’s discretion. One of the objectives of the Uniform Act is to provide assistance to displaced tenants in order to become homeowners. The regulation provides that any rental assistance payment that is calculated to be less than $5,250, and is to be used for downpayment assistance, may be increased to any amount not to exceed $5,250 as a downpayment, at the agency’s discretion. If the agency elects to provide the maximum payment of $5,250 as a downpayment, the agency must apply this policy in a uniform and consistent manner, so that eligible displaced persons in like circumstances are treated equally. The full amount of the downpayment assistance must be applied towards the purchase price of the replacement dwelling and related incidental expenses. The agency must also provide relocation advisory services in compliance with §24.20
Related Questions
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