The 24 CFR 5.603 net family assets definition governs HOPWA rent calculations, and the 5.618 asset-based restrictions apply only where resident rent payment requirements do

hopwa.asset_treatment.net_family_assets_definition_and_the_5_618_asset_restriction · v1.0.0

HOPWA imports the Part 5 asset machinery, with one express carve-out and one express limit on reach. THE NET FAMILY ASSETS DEFINITION IN 24 CFR 5.603 APPLIES for purposes of calculating resident rent payments under 574.310 and for applying the ASSET-BASED RESTRICTIONS IN 24 CFR 5.618(a) THROUGH (d). The same definition may also be used where a grantee elects to apply 5.609 alone or with 5.611(a) for other purposes under part 574. THE CARVE-OUT: the value of real property a family owns and occupies AS ITS PRIMARY RESIDENCE must be EXCLUDED from net family assets for purposes of assistance for which homeowners are eligible under this part -- which matters directly for short-term mortgage payments, where counting the home would defeat the activity. THE LIMIT ON REACH: the 5.618(a) through (d) asset-based restrictions APPLY ONLY TO HOUSING ACTIVITIES SUBJECT TO THE RESIDENT RENT PAYMENT REQUIREMENTS in 574.310, so an activity outside those requirements does not inherit them. References to 'PHA' in 5.618(a) through (d) are read as the grantee or project sponsor determining the restrictions.

Confidence

high

Effective from

2024-01-01

Consequence model

agency finding with cure

Last reviewed

2026-08-31