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Instead of renting, the participants will use their voucher subsidy to meet monthly homeowner expenses with an eventual goal of ownership of the property. (The program does not supply down payment assistance). Eligible applicants must meet all of the eligibility and participation requirements as set forth by the U.S. Department of Housing and Urban Development (HUD) and the Inglewood Housing Authority (IHA). Program participation is strictly voluntary.
Note: Senior citizens and disabled persons are exempt from the income and employment requirements.
The IHA determines a “payment standard” that is the amount generally needed to rent a dwelling unit in the local housing market. This payment standard is used to determine the amount of housing assistance the family will receive. A family may select a unit with a rent above or below the payment standard. The family must pay 30% of its monthly adjusted household income for rent and utilities. If the unit rent is greater than the payment standard, the family must pay the additional amount.
By law, when ever a family moves to a new unit where the rent exceeds the payment standard, the family may not pay more than 40% of its adjusted monthly income for rent.