Chapter 16: Entitlements for 90-Day Owner-Occupants

Section 1: Payment Options

Section 2: Determination of Eligibility

Section 3: Limitations

Section 4: Amount of Total Payment

Section 5: Replacement Housing Payments

Section 6: Maximum Payment Calculations

Section 7: Incidental Expenses - 90-Day Owner-Occupants

Section 8: Mortgage Insurance Premium Payments and VA Loan Funding Fees

Section 9: Increased Mortgage Interest Differential Payment (MIPD)

Section 10: Computation of Mortgage Interest Differential Payments (MIDP)

Section 11: Reverse Mortgages

Section 12: Computation of Housing Supplement

Section 1: Payment Options

Overview

A displaced 90-day owner-occupant may receive a replacement housing payment:

for the additional cost necessary to purchase replacement housing (price differential);

to compensate the owner for loss of favorable financing on his/her existing mortgage in financing of replacement housing if the owner has a 180-day bona fide mortgage on the displacement dwelling; and

to reimburse the owner for certain incidental expenses related to the purchase of replacement housing.

The combined total of these amounts may not exceed $41,200
. If the displaced owner elects to rent a replacement dwelling, he/she may be eligible for a rental assistance payment not to exceed what he/she would receive under the price differential option.