Senior Resources » 3 HUD Programs Senior Homeowners Should Know About

3 HUD Programs Senior Homeowners Should Know About

The United States Department of Housing and Urban Development (HUD) was established in 1965. It was created to assist families in obtaining affordable, safe housing. If that sounds like an awfully big job – well, it is. HUD oversees countless programs that continue to grow to serve its mission. Through these measures, HUD provides community development assistance. It also ensures fair and equal housing and works to strengthen communities (to name just a few).


Generally speaking, HUD does a lot for homeowners. It boasts fairness, quality, and equality – but, what exactly does all of that mean for seniors? Does the 55 + community benefit?



Let’s talk senior homeowners: Here are three HUD programs that seniors should know more about.

HUD building

Home Equity Conversion Mortgage (HECM)

A home equity conversion mortgage (HECM) is a popular type of reverse mortgage, insured by the Federal Housing Administration. Like any reverse mortgage, HECMs are available to adults aged 62 and older. The loan is based on the appraised value of their home.

Why should seniors know about HECMs? Do you have a whole lot of unexpected care costs? Are you living on a fixed income? Well then, reverse mortgages can help! These types of loans are a great way to generate extra income for bills and other essentials. And, HECMs are federally backed loans – so, they’re able to offer lower interest rates than privately insured loans.

HUD & Manufactured Homes: OMHP

The Office of Manufactured Housing Programs (OMHP) is in charge of administering the National Manufactured Housing Construction and Safety Standards Act of 1974. Basically, OMHP enforces HUD’s construction standards for manufactured homes.


Why should seniors know about OMHP? If you’re a retiree and considering downsizing, a manufactured home can be a cost-effective option. OMHP makes sure your prefabricated home is safe, by partnering with state and local agencies for quality assurance.

The Housing Choice Voucher Program (Section 8)

The Housing Choice Voucher Program helps very low-income families and seniors afford rent. To qualify for assistance, the renter’s income must be at least 50% under the median income for the area.

Why should seniors know about the Housing Choice Voucher Program? If you’re retired, you’re probably already living on a fixed income. And, if you’ve also run into some financial hardships, you might be wondering how you’ll ever afford your home. This is where the Housing Choice Voucher Program steps in. It offers subsidized rent to eligible applicants. To learn more, start here!

Honorable Mention: Good Neighbor Next Door Sales Program

HUD has a little-known program that while is not senior-specific, deserves an honorable mention. The Good Neighbor Next Door Sales Program offers a 50% discount to certain buyers in a “revitalization area.” Firefighters, teachers, and police, to name just a few, can take advantage.

Why should seniors care? Meant to refresh neighborhoods, community development is priority number one. For seniors, this can mean an increased home value, and, well, good neighbors. And, who doesn’t want that?


Learn More About HUD

You can learn more about HUD and its many other great programs by visiting the official website, at

Also, visit the Senior Resource Housing homepage if you’re ready to look for a new home!

And, don’t forget to check out our state resources.

Popular Articles About Senior Housing, and Personal Finance

Originally published March 21, 2022


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