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Affordable housing: Programs and initiatives

Affordable housing: Programs and initiatives

The housing market is constantly changing, with the rise in rental prices leading Americans to take a more proactive approach to their future housing. There are many programs and initiatives created by government, nonprofits and other non-profits aimed specifically at affordable housing solutions. To get the full story, visit

Below is an overview of some of these programs and initiatives meant to address affordable housing in America?

HUD Home Ownership

HUD Home Ownership is a program that enables low- and moderate-income families to achieve their dream of homeownership. The program provides education, counseling, and financial assistance to help families with little-to-no housing equity pay their mortgage. The ultimate goal of the program is to assist families with the low-down payment required for the down payment required for conventional mortgages.

In 2014, HUD helped more than 180,000 families purchase a home by offering them low-cost mortgages. Of these families, 81.6% of them were minority and more than 50% were Hispanic.

Federal Housing Administration (FHA)

The FHA is an agency that provides conventional mortgages to consumers in the United States with little-to-no income or assets. All FHA mortgage loans are insured by the U.S. government and are backed by the full faith and credit of the U.S. government. For all the details, click here

The FHA was created to help low- and moderate-income families afford housing after the Great Depression, in response to the housing crisis during that time period. The FHA is a government-backed home mortgage lending agency funded by private contributions from investors and lenders, but there are no risk charges on FHA loans, unlike conventional loans.

Section 8 Housing Vouchers

Section 8 is a federal government program that provides low-income families with a housing subsidy to help them pay for housing. Section 8 vouchers allow low-income families to find and live in their own private homes. Section 8 housing is owned and managed by the U.S. government, making it one of the primary programs for low-income housing in the United States.

Low-income Housing Tax Credits (LIHTC)

The LIHTC is a program that allows developers to build affordable housing. By offering federal tax credits, private investors are able to invest in affordable housing projects, which can then be sold to the government at a reduced rate. The reduced price reflects the lower risk of building affordable housing in areas with low demand, such as rural areas or low-income neighborhoods. Because LIHTCs are funded by the U.S.