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State HFAs and their partners provide affordable housing for elderly persons through the Section 202 Supportive Housing for the Elderly program, the Section 8 program, and other affordable housing programs.

Under the Section 202 program, HUD provides capital advances to finance the construction, rehabilitation, or acquisition with or without rehabilitation of structures that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable. In addition, HFAs provide home equity conversion mortgages (HECM), an FHA-insured reverse mortgage, allowing seniors (62 and over) to access the equity in their home.

Useful Link: HUD's Section 202 Supportive Housing for the Elderly Program Webpage

NCSHA Blog Posts

  • April 28, 2017
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    The White House announced today that President Donald Trump intends to nominate Pamela Patenaude to serve as Deputy Secretary for Housing and Urban Development (HUD). Patenaude is currently president of the J. Ronald Terwilliger Foundation for America’s Families, an organization that seeks to elevate housing’s place on the political agenda.

  • March 9, 2017
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    Earlier today, various news sources, including the Washington Post and The Hill, published troubling reports about leaked documents indicating that the Trump Administration is considering more than $6 billion in cuts to HUD programs in Fiscal Year (FY) 2018. According to these reports, the Administration may propose the elimination of several HUD programs, including HOME.

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    Elderly Housing - Resources