Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback30 pages $20.00 $16.00 20% Web Discount

Describes home purchases by 250 low-income renters in two sites (Brown County, Wisconsin, and St. Joseph County, Indiana) who became homeowners while enrolled in the experimental housing allowance program. Even with allowance payments, buyers' incomes and assets were generally inadequate to obtain conventional financing. Those who did obtain a conventional mortgage got help from friends or relatives or received other outside assistance. Most buyers used more easily obtainable loans, such as government-insured mortgages, consumer loans, and land contracts. Buyers' financing arrangements were usually determined by the mortgage lending practices in each site and by the households' financial characteristics.

This report is part of the RAND Corporation Note series. The note was a product of the RAND Corporation from 1979 to 1993 that reported other outputs of sponsored research for general distribution.

Our mission to help improve policy and decisionmaking through research and analysis is enabled through our core values of quality and objectivity and our unwavering commitment to the highest level of integrity and ethical behavior. To help ensure our research and analysis are rigorous, objective, and nonpartisan, we subject our research publications to a robust and exacting quality-assurance process; avoid both the appearance and reality of financial and other conflicts of interest through staff training, project screening, and a policy of mandatory disclosure; and pursue transparency in our research engagements through our commitment to the open publication of our research findings and recommendations, disclosure of the source of funding of published research, and policies to ensure intellectual independence. For more information, visit www.rand.org/about/research-integrity.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.