Section 8 Home Ownership Program

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Can my Housing Choice Voucher assist me to move to homeownership?

Yes. Instead of using the voucher subsidy to help with rent, the homeownership option allows the first-time homeowner to use the voucher subsidy to pay a portion of the mortgage payment to the lender for the home you chose to purchase

Who is eligible for the program?

Section 8 participants who are working, elderly or disabled can be eligible for the program if they:

  • Are a first-time homeowner
  • Are a Housing Choice Voucher Program participant for at least one year in the Housing Authourity's jurisdiction
  • Complete a Homebuyer Education Learning Program (H.E.L.P.) training or other Housing Authority approved first time homebuyer education program
  • Successfully complete a credit repair workshop (if necessary)
  • Do not have an outstanding debt with any Housing Authority
  • Have not previously defaulted on a mortgage while participating in a Section 8 Homeownership Program
  • Are not in violation of the Section 8 Rental Assistance Program Family Obligations
  • Do not have an ownership interest in any other residence.

What happens after the Housing Authority determines a participant is eligible?

The participant will be issued a Homeownership Program Voucher authorizing them to search for a suitable home to purchase. They will also sign the Homeownership Family Obligations and attend a briefing session to further explain the program and responsibilities of the participant. The voucher allows six months for the participant to search for suitable housing and financing. They will work with their realtor, lenders, and the Housing Authority during that time. The participant must never sign a sales agreement until it is approved by the Housing Authority.

How much down payment must I have?

HUD requires a minimum down payment of 3% or more of the purchase price with at least 1% of the down payment coming from the family’s own personal resources.

Are any Down Payment Assistant Loan Funds available?

Yes. Applications may be submitted through a participating lender for one of the City's down payment assistance loan programs. For additional information click here.

Are there any other requirements?

Yes. The unit must: 

  • Be under construction or already existing
  • Be either a single family home, or a single dwelling unit in a condominium
  • Pass a Housing Quality Standards (HQS) inspection. In addition to the HQS inspection, the family must arrange and pay for an inspection to be conducted by a licensed home inspector and submit a copy of that inspection to the Housing Authority

The family must:

  • Comply with all Homeownership Family Obligations
  • Complete an Annual Recertification of income and family composition
  • Participate in any additional Homeownership Counseling as required by the Housing Authority.
  • Be in the VHA/SCHA jurisdiction for at least one year.

How long will I continue to receive assistance with the Homeownership Voucher paying a portion of the mortgage payment?

The Homeownership Program will assist eligible participants:

  • For 15 years if the mortgage is 20 years or longer; 10 years if less than 20 years. (These maximums do not apply to eligible elderly or disabled families.) , or 
  • Until the family is no longer eligible for a Mortgage Assistance Payment based on the household income, or
  • Until the family no longer participates in the Homeownership Program.
  • As long as the family continues to comply with all family obligations while they are receiving Mortgage Assistance Payments.

For more information, please refer to the Homeownership Brochure