If you’re considering buying a home, check out this FREE publication: Shopping for Your Home Loan: HUD’s Settlement Cost Booklet.
This booklet outlines the various aspects of the home buying process, but starts by asking some key questions to help you determine if you’re ready to buy a home. You’ll also find a worksheet for calculating how much you can afford.
Where can I go to find low-cost senior rental housing?
Asked by an anonymous Tumblr user.
The Department of Housing and Urban Development (HUD) has a number of resources to help seniors find affordable rentals.
They offer a low rent apartment search that shows low-rent apartments for senior citizens and people with disabilities, as well as for families and individuals. For low rent apartments, the government gives funds directly to the apartment owners. There is an income limit to qualify.
You can also look for multifamily units by state that rent to seniors and people with disabilities. HUD does not provide details like eligibility, waiting list information, or types of accessible features for these properties, but the list can help you identify potential rentals in your area.
There’s also the public housing program and public housing choice vouchers, commonly called Section 8. Public housing comes in all sizes and types and is managed by local housing agencies that are funded by the federal government. Public housing choice vouchers allow you to find a private rental and the government pays the landlord directly to subsidize the rent. Both programs are limited to low-income families and individuals.
If you have questions or need help finding a rental, talk to a HUD-approved housing counselor.
Learn to recognize the signs of foreclosure rescue scams and who to contact if you’re caught in a scam.