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The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
The Housing and Community Development Act of 1974 (12 U.S.C. 1706e) is a United States federal law that, among other provisions, amended the Housing Act of 1937 to create Section 8 housing, [1] authorizes "Entitlement Communities Grants" to be awarded by the United States Department of Housing and Urban Development, and created the National Institute of Building Sciences. [2]
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The rate of homeownership in the United States, as measured by the fraction of units that are owner-occupied, was 64% as of 2017. [1] Housing in the United States is heavily commodified, and when viewed as an economic sector, contributes to 15% of the gross domestic product. [2]
A Section 184 loan requires just 2.25 percent down. The NADL program has no down payment requirement, but is only for Native American veterans and their spouses. First-time homebuyer programs by state
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