Information page HOME Security Deposit and First Month Rent Program
The City of Waltham
HOME Security Deposit and First Month Rent Payment Assistance Program
The City of Waltham is offering assistance to low to moderate income qualified residents to meet their rental security deposits. The program is designed to provide Federal HOME funding to assist households in obtaining permanent housing. The definition of a qualified resident is one who has resided in Waltham for at least one year, or works in Waltham.
Eligible participants will receive a security deposit and first month rent payment that will be paid directly to the landlord on approval of the rental housing by the Housing Department of the City. Federal Housing Quality Standards will apply to all units. The majority of households who receive HOME TBRA assistance must be very low-income. This means that they have a gross annual household income of 60 percent or less of the median income for their area (AMI), as determined by HUD. Ninety percent of funds will be reserved for households at or below 60% of the AMI.
HOME Program FY14 HUD Income Guidelines.
Area Median Income | 1 person | 2 person | 3 person | 4 person | 5 person | 6 person | 7 person | 8 person |
60% AMI | 45,300 | 51,780 | 58,260 | 64,680 | 69,900 | 75,060 | 80,220 | 83,380 |
80% AMI | 57,333 | 69,040 | 77,680 | 86,240 | 93,200 | 100,080 | 106,960 | 111,173 |
Eligible participants identify the housing unit of their choice in Waltham. Eligible properties may be publicly or privately owned and must meet Housing Quality Standards, as determined by the City prior to occupancy. The Housing Division will provide participants with rent standard’s that will apply to all properties assisted with HOME funds. Participants must be able to make rent payments for the lease term.
Other program guidelines will apply. For complete information on this program please contact the Housing Division.
The program will operate on a first come, first served basis as long as funding is available.
Applications and Tenant Selection Criteria are available below or by contacting the City of Waltham Housing Division at 781-314-3380.
Please print out the information below for program guidelines and application materials. The HOME Security deposit program is open to Waltham Residents on a first come first srve basis as long as funding is available.
HOME Security Deposit Program Application *** Use the application checklist below to submit all materials with your application. Applications submitted without income documentation will not be accepted.
HOME Security Deposit Application Addendum