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By Kerry Smith<\/div><\/div>\n

In a heated political era, no one can predict what the final 2024 U.S. budget will look like, but the White House\u2019s initial proposal boosts a number of housing programs.<\/span><\/span><\/p>\n<\/div>\n

WASHINGTON \u2013 The Fiscal Year 2024 budget will likely be a major Washington political battle, but the first volley \u2013 an initial proposal coming from the White House \u2013 emphasizes the importance of a number of housing issues.<\/span><\/span><\/p>\n

\u201cFor those of us at HUD (U.S. Department of Housing and Urban Development), that means addressing homelessness with urgency and ensuring everyone in this country has access to quality affordable housing,\u201d says HUD Secretary Marcia L. Fudge. \u201cThe budget invests in Americans at every station in life \u2013 from those seeking to purchase a home to those who receive HUD rental assistance \u2013 and will ensure families across the country can live in communities that are safe, affordable and resilient.\u201d<\/span><\/span><\/p>\n

Housing issues included in the White House budget proposal<\/span><\/span><\/h3>\n
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Expand the Housing Choice Voucher (HCV) program<\/strong>. $32.7 billion \u2013 an increase of $2.4 billion over the 2023 enacted level \u2013 to maintain services for all currently assisted families and to expand assistance to an additional 50,000 households. It also expects funding from HCV program reserves to expand assistance to another 130,000 households. It also includes $25 million for mobility-related supportive services.<\/span><\/span><\/li>\n
Increase affordable housing supply to reduce costs<\/strong>. $1.8 billion for the HOME Investment Partnerships Program (HOME), an increase of $300 million over the 2023 level, to construct and rehabilitate affordable rental housing and provide homeownership opportunities. It also provides $258 million to support 2,200 units of new permanently affordable housing specifically for the elderly and persons with disabilities.<\/span><\/span><\/li>\n
Support economic development and remove barriers to developing affordable housing<\/strong>. $3.4 billion for the Community Development Block Grant program to help communities modernize infrastructure and more. Within that amount, $85 million is slated for a competitive program to reward state, local and regional jurisdictions that make progress in removing barriers to affordable housing developments<\/span><\/span><\/li>\n
Advance efforts to end homelessness<\/strong>. $3.7 billion \u2013 an increase of $116 million \u2013 for Homeless Assistance Grants to meet renewal needs and expand assistance to approximately 25,000 additional households, including survivors of domestic violence and homeless youth. It also provides $505 million for Housing Opportunities for Persons with AIDS.<\/span><\/span><\/li>\n
Preventing and redressing housing discrimination<\/strong>. $90 million to support state and local fair housing enforcement organizations, and to further education, outreach, and training on rights and responsibilities under federal fair housing laws.<\/span><\/span><\/li>\n
Down payment assistance<\/strong>. $100 million for a HOME down payment assistance pilot program to expand homeownership opportunities to first-generation and\/or low wealth first-time homebuyers, and $15 million to increase the availability of FHA small balance mortgages.<\/span><\/span><\/li>\n<\/ul>\n
In addition to 2024 proposal, the Federal Housing Administration (FHA) reduced the annual mortgage insurance premiums new borrowers pay by about one-third recently, saving the average FHA borrower about $800 in the first year and continued savings for the duration of their loan.<\/span><\/span><\/p>\n
\u00a9 2023 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
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\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"
By Kerry Smith In a heated political era, no one can predict what the final 2024 U.S. budget will look like, but the White House\u2019s initial proposal boosts a number of housing programs. WASHINGTON \u2013 The Fiscal Year 2024 budget will likely be a major Washington political battle, but the first volley \u2013 an initial proposal coming from the White House \u2013 emphasizes the importance of a number of housing issues. \u201cFor those of us at HUD (U.S. Department of Housing and Urban Development), that means addressing homelessness with urgency and ensuring everyone in this country has access to quality affordable housing,\u201d says HUD Secretary Marcia L. Fudge. \u201cThe budget invests in Americans at every station in life \u2013 from those seeking to purchase a home to those who receive HUD rental assistance \u2013 and will ensure families across the country can live in communities that are safe, affordable and resilient.\u201d Housing issues included in the White House budget proposal Expand the Housing Choice Voucher (HCV) program. $32.7 billion \u2013 an increase of $2.4 billion over the 2023 enacted level \u2013 to maintain services for all currently assisted families and to expand assistance to an additional 50,000 households. It also expects funding from HCV program reserves to expand assistance to another 130,000 households. It also includes $25 million for mobility-related supportive services. Increase affordable housing supply to reduce costs. $1.8 billion for the HOME Investment Partnerships Program (HOME), an increase of $300 million over the 2023 level, to construct and rehabilitate affordable rental housing and provide homeownership opportunities. It also provides $258 million to support 2,200 units of new permanently affordable housing specifically for the elderly and persons with disabilities. Support economic development and remove barriers to developing affordable housing. $3.4 billion for the Community Development Block Grant program to help communities modernize infrastructure and more. Within that amount, $85 million is slated for a competitive program to reward state, local and regional jurisdictions that make progress in removing barriers to affordable housing developments Advance efforts to end homelessness. $3.7 billion \u2013 an increase of $116 million \u2013 for Homeless Assistance Grants to meet renewal needs and expand assistance to approximately 25,000 additional households, including survivors of domestic violence and homeless youth. It also provides $505 million for Housing Opportunities for Persons with AIDS. Preventing and redressing housing discrimination. $90 million to support state and local fair housing enforcement organizations, and to further education, outreach, and training on rights and responsibilities under federal fair housing laws. Down payment assistance. $100 million for a HOME down payment assistance pilot program to expand homeownership opportunities to first-generation and\/or low wealth first-time homebuyers, and $15 million to increase the availability of FHA small balance mortgages. In addition to 2024 proposal, the Federal Housing Administration (FHA) reduced the annual mortgage insurance premiums new borrowers pay by about one-third recently, saving the average FHA borrower about $800 in the first year and continued savings for the duration of their loan. \u00a9 2023 Florida Realtors\u00ae \u2715 ADVERTISEMENT Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":7751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/7750"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=7750"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/7750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/7751"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=7750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=7750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=7750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}