The mission of HUD is to supply affordable housing for low income families and seniors. There are primarily two HUD Section 8 housing programs; namely rental certificate program and rental voucher program.
The HUD Section 8 housing program is administered by Office of Community Planning and Development, the Office of Housing and the Office of Public and Indian Housing. It is their endeavor to increase the stock of housing affordable to low income households.
HUD housing range in price and are usually sold at market value or close to it. However, most of these houses are located in the inner city areas are very affordable because they are overlooked by most homebuyers. So, if you are interested in purchasing HUD housing, go for it. Most of these homes have been acquired by the HUD because of a foreclosed FHA loan.
HUD Section 8 housing requirements state that the family applying for HUD Section 8 housing should not have a family income exceeding 50 percent of the median income of the county or metropolitan area. In order to show your eligibility, you will have to furnish paycheck stubs, birth certificate and tax returns.
The eligibility requirement to apply for HUD housing is that the family income should not exceed 50 percent of the median income for the county or metropolitan area. You might also qualify for HUD Section 8 Consolidation Program which is a non-federal program that awards grants to low income families or individuals.
HUD Section 8 home program is lifeline for many low income families wherein they can now get affordable housing through participating jurisdictions (PJs), which actually are states and local governments.