HUD’s Proposed Rule Allows Single Downpayment Grants
July 2, 2001
The Department of Housing and Urban Development has proposed a rule that would allow a public housing agency to extend downpayment assistance grants to families looking to purchase a home. Under this "homeownership option," instead of assisting families with monthly homeownership payments, a public housing agency could offer a downpayment assistance grant to a family that has been receiving HUD rental vouchers for at least a year.