Section 8 Homeownership Program
Homeownership vouchers assist first-time homebuyers with their monthly homeownership expenses. The home must pass an initial Housing Quality Standards (HQS) inspection conducted by the Housing Authority and an independent home inspection before the Housing Authority may approve the purchase by the family.
What families are eligible to apply for homeownership vouchers?
Families must meet these requirements:
- First-time homeowner.
- A family that has not owned or had ownership interest in the past three years.
- Minimum income requirement. The qualified monthly income of the family who will own the home must not be less than the Federal minimum hourly wage multiplied by 2,000 hours. Except in the case of an elderly household or a family with a disabled person, welfare assistance is not counted in determining whether the family meets this requirement.
- Employment requirement. Except in the case of elderly and families with a disabled person, 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 Housing Authority eligibility requirements. The family meets any other initial eligibility requirements set by the Housing Authority.
- Homeownership counseling. The family must attend and satisfactorily complete the Housing Authority's pre-assistance homeownership and housing counseling program.
- The family must be on the Section 8 Program for at least one year.
- The family must be in good standing with their current landlord and the Housing Authority.