How To Get Help With House Payments For Disabled Workers
As a disabled worker, you can access plenty of ways to get help with house payments, from HUD Rental Assistance to Fannie Mae home loans to a regular online title loan. However, each option comes with its eligibility requirements and usage restrictions, so it's important to pick one suitable for your situation.
In the following sections, we'll explore the top seven assistance programs and loans those with disabilities can access to help with housing payments.
Top 7 Ways To Get Help With House Payments For Disabled Workers
1. Housing Choice Voucher Program
The Housing Choice Voucher Program, originally called Section 8, is a scheme offered by the Department of Housing and Urban Development (HUD) to help low-income families, seniors, and people with disabilities make rental payments.
The types of homes eligible under the program include single-family homes, apartments, and townhouses. Depending on your situation, the vouchers will cover all or part of your monthly rent. Your local PHA (i.e., public housing agency) determines whether you're eligible based on:
- the size of your family.
- U.S. citizenship or immigration status.
- your annual gross income.
- if you qualify as a senior, low-income family, or person with a disability.
- other area factors.
Generally, your household income can't exceed 50% of your county's median income, but each city or state may have different eligibility criteria.
2. HUD Rental Assistance
The HUD can also help you find affordable rental properties. While the Department doesn't own the home, it gives money to the building's owner, allowing them to offer you cheaper housing opportunities.
You can call 1-800-569-4287 to find your local HUD-approved housing counseling agency or use the Department's online portal to find a nearby housing counselor. Typically, the counselor is from a non-profit organization certified to offer this assistance.
3. Housing Choice Voucher Homeownership Program
If you qualify for the rental-based Housing Choice Voucher program, you'll gain approval for the homeownership side of things too. Instead of using the vouchers to fund rent, you can use them to buy a home and get monthly assistance to help meet homeownership costs.
Unfortunately, it isn't offered by every public housing agency because they're authorized to use their discretion to decide whether to roll out the HCV Homeownership Program in their jurisdictions. That said, you can find a PHA in your area that might offer this funding using the HUD's enrollment reports.
Typically, the eligibility criteria are as follows:
- You must meet certain income requirements.
- You must be a first-time homeowner.
- You must attend and complete the pre-assistance homeownership and housing counseling program provided by the PHA.
- You must meet other requirements as per your jurisdiction's PHA.
4. Single Family Housing Guaranteed Loan Program
The U.S. Department of Agriculture offers the Single Family Housing Guaranteed Loan to eligible applicants seeking primary residence in eligible rural areas. The Section 502 scheme allows low- and moderate-income families to own modest, safe, decent, and hygienic dwellings in such locations. With this loan program, you get 100% funding to:
- purchase,
- build,
- rehabilitate,
- relocate,
- or improve a dwelling.
The most exciting part is that you don't need to provide a deposit. The government provides a 90% loan to the lender to reduce the risk of extending 100% loans to you. Before applying, check whether you meet the eligibility criteria below:
- Income cannot exceed 115% of the median household income in your area
- Must be a U.S. non-citizen national, U.S. citizen, or a Qualified Alien
- Must personally occupy the dwelling as your primary residence
5. Independent Living Skills Center
Independent Living Skills centers help you develop the skills necessary to live alone with a disability. They're offered at a state and local level by the Department of Human Services. Accessing these centers can give you funding for:
- home modifications.
- housing counseling.
- locating rental housing.
- developing essential skills.
6. Fannie Mae Home Loans
Fannie Mae mortgages (conforming loans) help those with disabilities purchase homes. The most common program is the HomeReady mortgage because it has ultra-flexible guidelines.
To qualify, you must have:
- a deposit of at least 3%.
- a credit score higher than 619.
- an income no greater than 80% of your area's median.
7. Online Title Loan
If you don't qualify for any government-backed programs, you can let us connect you with one of our esteemed title loan lenders. You don't need a perfect credit score, and you will receive the funding you need in as little as 24 hours.
Our lenders use the value of your vehicle to establish the amount of money you qualify for (up to $15,000). Plus, starting the process is simple — use our online chat feature or fill out a title loan online form.
Get An Online Title Loan Today!
There are several options allowing you to get help with house payments for disabled, and you can choose the one that meets your needs the most. If you think a title loan might be right for you, just fill out the online form on our website. We'll connect you with a title loan lender in your area so that you get help with house payments for disabled workers in a matter of moments. Kickstart the process today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.