Pennsylvania HB1696 establishes a Lease with Guaranteed Purchase Option Home Ownership Program to help low-income households transition to.
Pennsylvania HB1696 creates the Lease with Guaranteed Purchase Option Home Ownership Program, administered by the Pennsylvania Housing Finance Agency. This program allows low-income households to lease residential properties with an option to purchase. The program sets maximum allowable monthly payments, requires escrow accounts for down payments, and mandates standard lease agreements. It also outlines eviction protections and procedures, and establishes a dedicated fund for program operations.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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