How do I apply for a low-income apartment?
Also known as the Section 8 Housing Choice Voucher Program, the assistance allows the tenant to choose the housing they wish to rent, as long as it meets minimum health and safety standards established by law, and the landlord agrees to participate in the program.
This program, known by its official name Section 8 Housing Choice Voucher Program, is administered by the Department of Housing and Urban Development (HUD) and is implemented locally through agencies known as the Local Housing Authority (PHA).
Once HUD has established the fair market rent, the PHA fine-tunes that amount to account for variations within an area. The final amount can range from 90 to 110 percent of the fair market rent set by HUD.
It should be noted that in exceptional cases, tenants are allowed to rent a dwelling at a price above the fair market rent. In these cases, the tenant must bear this extra expense and the total cost of rent cannot exceed 40 percent of the tenant’s net income.
Income Table for Section 8 2021
In order to know how much you must earn to buy a property, three things must be considered: the mortgage payment, the down payment and additional payments such as property taxes, notary costs or additional costs in case you want to renovate or restructure your patrimony.
In Mexico the down payment is usually between 10% to 30% of the value of the property; in other words, if the value of the house is 1 million 500 thousand pesos, you will have to make a down payment of 300 thousand pesos (30%).
These payments should not be a problem for your pocket, otherwise if you fall behind with the mortgage payment, the financial institution could charge you interest or put you on the list of debtors who do not pay reflecting a bad credit history.
The National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) has a fixed-rate mortgage loan simulator that helps you evaluate the payment you must make each month and how much income you must prove.
Rental Homes Accepting Section 8
By Leslie Parrilla | [email protected] | PUBLISHED: November 16, 2011 at 4:30 p.m. | UPDATED: October 10, 2017 at 4:24 a.m.Corona officials are preparing to relocate a group of families from a run-down apartment building on 5th. Street to refurbish it as part of a low-cost housing program.
“I don’t know what I’m going to do. They’re going to tear down the apartments so they told us we had to move,” said Basilio Galindo, who was in a two-bedroom apartment where he lives with his wife and two daughters. They pay a rent of US$775 per month.
If city officials demand it, Corona residents would have priority to move into the remodeled apartments, McDevitt said. And some who live in the complex could qualify to live in the renovated apartments.
Housing application in Spanish
The Riverside County Economic Development Agency offers several assistance programs that address the needs of seniors, mobile home renters and low-income homeowners.
Whether you are looking to rent or buy, the County Housing Authority’s website provides a list of innovative housing and community development programs that can help individuals and families.
Find out how the Riverside County Assessor’s Office, the Treasurer-Tax Collector’s Office and the Auditor-Controller’s Office work together to assess and collect property taxes.