San Diego renters receives federal assistance

San Diego renters receives federal assistance

San Diego renters receives federal assistance
The U.S. Department of Housing and Urban Development has announced that San Diego will receive 100 federal rental housing vouchers to help pay rent for households below the poverty level. The vouchers are valued at nearly $1.3 million.

The renter assistance comes as a part of the CARES act that was passed by Congress earlier this year in response to the coronavirus pandemic. San Diego County is also accepting new applications for the Emergency Rental Assistance Program beginning December 1. Those experiencing a financial hardship linked to the pandemic may qualify for rental assistance of up to $3,000 to pay for past-due or upcoming rent.

In total, the County of San Diego Board of Supervisors has allocated $27 million in funding to help residents through the economic downturn.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.