Section 8 Homeownership

The Homeownership Voucher Program is for families who currently have a Section 8 Voucher (Housing Choice Voucher, HCV) from a participating Housing Authority. The Housing Authority can use that voucher to pay for monthly homeownership expenses. You must call your local Housing Authority to see if they participate.

As a participant in the Housing Choice Voucher program receiving rental assistance, you can use your voucher to buy a home and receive monthly assistance in meeting homeownership expenses.
You must meet income, other eligibility requirements and must be able to obtain a mortgage from a lender.

The PHA (Public Housing Authority) uses its normal voucher program payment standard schedule to determine the amount of subsidy for the homeownership program. The PHA may make the HAP payment directly to the family or to the lender.

Eligibility for families to apply for homeownership voucher
Families must meet these requirements:

• Be a current voucher holder.
• First-time homeowner or cooperative member.
• No family member has owned or had ownership interest in their residence for at least three years.
• Except for cooperative members, no member of the family has any ownership interest in any residential property.
• Minimum income requirement. Except in the case of disabled families, the qualified annual income of the adult family members who will own the home must not be less than the Federal minimum hourly wage multiplied by 2,000 hours. For disabled families, the qualified annual income of the adult family members who will own the home must not be less than the monthly Federal Supplemental Security Income (SSI) benefit for an individual living alone multiplied by 12. The PHA may also establish a higher minimum income requirement for either or both types of families. Except in the case of an elderly or disabled family, welfare assistance is not counted in determining whether the family meets the minimum income requirement.
• Employment requirement. Except in the case of elderly and disabled families, one or more adults in the family who will own the home is currently employed on a full-time basis and has been continuously employed on a full-time basis for at least one year before commencement of homeownership assistance.
• Additional PHA eligibility requirements. The family meets any other initial eligibility requirements set by the PHA.
• Homeownership counseling. The family must attend and satisfactorily complete the PHA's pre-assistance homeownership and housing counseling program.

The home must pass an initial housing quality standards inspection conducted by the PHA and an independent home inspection before the PHA may approve the purchase by the family.

For a list of participating Public Housing Authorities that have reported one or more homeownership voucher home purchases to HUD see this MS-Excel file. (The list indicates the number of homeownership voucher purchases assisted by each PHA.)

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