Consumers looking for more information, such as whether their region's authority is participating, can call their local HUD offices for help. Once a family tastes homeownership and owns a part of America, that has some motivating factor. People will tend to improve their properties, tend to maintain them and have some pride in them. Homeowners have an investment to protect and are more likely to care for their personal property than their rental property. The program is complex and varies somewhat by location.
Housing authorities can use different loan structures to help borrowers.
Differences in the price of homes make the product viable in some parts of the country but not in others. Potential buyers sometimes need additional government or nonprofit assistance to get into properties. But a few minimum requirements apply to the program nationwide. They have to be employed for at least a year and attend free homeownership counseling sessions before buying. Additionally, voucher assistance lasts for just 15 years on mortgages with terms of 20 years or longer and only 10 years on shorter-term loans.