A Home of Your Own

1
A Home of Your Own

• Buying Or Renting
• Your Own Home
• Some Options

2
A Home of Your Own

• Places to start
• Your local housing authority
• Local or statewide disability homeownership
  groups
• HUD housing counseling
• Local independent living centers

3
A Home of Your Own

• HomeChoice
• Available through homeownership coalitions for
  people with disabilities
• Mortgages require 3 down payment, have higher
  debt to income ratio (you do not need to earn a
  lot of money to buy a house)

4
A Home of Your Own

• HomeChoice
• Accept non-traditional credit histories (little
  to no credit prior to application)
• Recognize non-traditional sources of income and
  support, including public disability benefits
• The loan limit for a 15- or 30-year fixed rate
  mortgage is 275,000

5
A Home of Your Own

• The Section 8 Housing Voucher
• For low income people for renting or buying a
  home
• The qualified yearly income for a person with a
  disability is 12 times the SSI check amount (2010
  674/mo x 12 mo 8,088)
• Employment is not required

6
A Home of Your Own

• Individual Development Accounts (IDAs)
• Savings accounts for people with disabilities
  where, when they deposit money into the IDA
  account, get from 3-7 matched by another
  organization
• IDAs do not count toward the SSI resource limits
• May require Pre purchase counseling or
  financial education training

7
A Home of Your Own

• Social Security/SSI considerations
• A person receiving SSI and Medicaid can own a
  home and not have the value of the home count as
  part of their resource limits (2,000 for a
  single person, 3,000 for a couple), if they live
  in the home.

8
A Home of Your Own

• Information used for this presentation from the
  World Institute on Disability, Dede Leydorf,
  510-251-4340 and
• Consortium for Citizens with Disabilities Housing
  Taskforce, 202-783-2229
• www.c-c-d.org/task_forces/housing/tf-housing.ht
  m

9
A Home of Your Own

• Renting your home
• Person-centered resources
• HUD Section 8 Housing Vouchers
• Subsidized apartments

10
A Home of Your Own

• In developing a person-centered residential plan
  for a person, many support resources will be
  identified, both paid and unpaid
• During this process, a living situation may be
  identified such as an apartment attached to a
  private home whose owner is acquainted with the
  person, and supports his community integration
  goals

11
A Home of Your Own

• HUD Section 8 housing vouchers
• Allow you to find your own housing, single family
  homes, townhouses or apartments
• Owner agrees to rent under the program
• Rental units must meet minimum standards of
  health and safety
• Person pays the difference between the typical
  rental value and the subsidy
• Rent equals 30 of the persons adjusted income

12
A Home of Your Own

• Low income apartment complexes
• HUD helps apartment owners offer reduced rents to
  low-income tenants
• Find apartment complexes through the local public
  housing assistance provider

13
A Home of Your Own

• For more information about renting a home
• National Council of State Housing Agencies
  (Specific state information)
• http//www.ncsha.org/section.cfm/4/39/187
• HUD Housing Voucher Program
• http//www.hud.gov/offices/pih/programs/hcv/index.
  cfm