Section 202 Housing Application
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These properties are owned by private management companies or an individual private owner often nonprofit organizations.
Section 202 housing application. The section 202 supportive housing for the elderly program provides affordable apartment communities for seniors. For example the property may only accept tenants who are participants in a local assistance program. There are also various income scales in place that will vary based on state and county.
The section 202 capital advance program funds the construction substantial rehabilitation or acquisition of housing for very low income elderly persons. It provides very low income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning cooking transportation etc. Learn about the section 202 program.
Section 202 properties require one household member to qualify for the age requirement but there may be additional requirements. The section 202 program helps expand the supply of affordable housing with supportive services for the elderly. Program description the section 202 program provides capital advances and operating subsidies to facilitate the creation of multifamily housing for very low income elderly persons more for more information contact your local hud multifamily office.
Ongoing operation of the housing is assisted by a project rental assistance contract pursuant to the housing act of 1959 as amended by section 801 of the national affordable housing act. Be aware of common factors that may disqualify an application. The section 202 program helped expand the supply of affordable housing with supportive services for the elderly.
It provided direct loans and capital advances from the federal government to support nonprofit entities to build housing for very low income elderly. Apply to a section 202 property. Applicants may apply nationwide regardless of where they currently live.
Review your state above for local information or if not available then learn more.
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