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comparable replacement home and the unit to which you relocate exceed the voucher <br />"payment standard," you will qualify for cash assistance to cover the gap for 60 months. <br />B. <br />Advantages of HCV Assistance. The HCV assistance may continue for as long as you <br />have a need. Unlike cash assistance, HCV assistance is recomputed each year to reflect <br />changes in your income, rent or the cost of utilities. While cash assistance will terminate <br />at the end of 60 months, HCV assistance may continue to be available after the 60-month <br />period ends if you still qualify as alower-income person. <br />URA Rental Assistance <br />................. <br />URA rental assistance is computed by subtracting thy' "base.. monthly rent" for your <br />present home from the rent and average monthly costgl'utilities for your new home (or a <br />comparable replacement home, if that cost is Iopr). -; That monthly need, if any, is <br />~. <br />multiplied by 42, to determine the total amounhthat ybu will receive; This amount will <br />be paid directly to you in monthly installments or other periodic paymehts :.Generally, <br />the base monthly rent for your present htime is the lesser of: (1) the montfi7y rent and <br />average monthly cost for utilities, or (2) thirty (30) pesent of your~'gross monthly <br />household income (if you are low-income based on IIJD income limits). <br />Examples: Let's say that the monthl <br />home are $250; the monthly rent ar <br />replacement home are $350; and yoi <br />"base monthly rent" would be $210 <br />percent of your mcp) is less than <br />home ($250). <br />• If you rent a replacem <br />monthly utility charges' <br />clt'~'ference between tlte" <br />'for a comparable replac <br />and average ctist focutilities for your present <br />Hated average uti)$fy costs for a comparable <br />hly gross income is $700. In this case, your <br />~~'e you ae llttiv-income and that amount (30 <br />nthly cost df rent and utilities at your present <br />Mme for $050 per month, including estimated average <br />rill rece~e $5,880. That amount is 42 times $140 (the <br />nonthly rent" for your present home ($210) and the cost <br />home ($350)). <br />• If,you rent a replacemer, <br />charges, you will recei <br />between the "base'mont <br />your new. home ($310)). <br />C. Purchase Assistance <br />Mme for $310, including estimated average monthly utility <br />$4,200. That amount is 42 times $100 (the difference <br />rent" for your present home ($210) and the actual cost of <br />If you buy, rather than rent, a replacement home, you may be eligible for assistance to <br />make a down payment. The amount depends on the type of housing that you buy. <br />Section 104(d) purchase assistance is limited to mutual housing and cooperative housing. <br />If you wish to purchase a house that is not mutual or cooperative housing, your purchase <br />assistance would be provided under the URA. <br />4 -143 <br />