Seattle >Housing

If you’ve managed to hold onto a few dollars during this recession, you might want to think about investing in a new home. Interest rates are very low, and if you can afford it, a house in Seattle could be a decent investment.

The Department of Housing and Urban Development (HUD) works to fulfill its mission of increasing home ownership opportunities, promoting access to affordable housing, strengthening communities through economic development, ensuring equal opportunity in housing and promoting participation of faith-based and community organizations through its programs and initiatives. The following are examples of HUD's major endeavors:

• The American Dream Down Payment Initiative (ADDI) assists first-time home buyers with purchasing single-family homes by providing funds for down payments, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.
• The Good Neighbor Next Door Program (GNND) provides law enforcement officers, teachers, firefighters and emergency medical technicians with the opportunity to purchase homes located in revitalization areas at a significant discount.
• The Energy Efficient Mortgages Program (EEM) helps home buyers or home owners save money on utility bills by enabling them to finance the cost of adding energy-efficiency features to new or existing housing as part of their Federal Housing Administration (FHA) insured home purchase or refinancing mortgage.
• The Office of Community Planning and Development (CPD) seeks to develop communities through methods that provide decent housing, suitable living environments and expanded economic opportunities for people with low and moderate incomes.
• The Community Connections center provides information on the CPD's model programs, case studies, publications and more.

While increasing home ownership is a top priority, the HUD understands it is not a viable option for everyone. Therefore, the HUD also provides information on locating decent, affordable rental housing. For instance, the HUD's largest program, the Housing Choice Voucher system, promotes affordable rental housing for families and individuals.

More information on HUD programs is available, including their programs for Native Americans, lead hazard control, multifamily housing, and public housing.