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Applicants
– Home Ownership Program
Housing
Choice Voucher Program Homeownership Option
The WHA offers homeownership assistance to families that receive Housing
Choice Voucher assistance. The purpose of the program is to promote homeownership
opportunities, self-sufficiency training, and personal advancement. Eligible
voucher holders can apply their monthly subsidy to a mortgage payment.
Community
agencies offer participants in the homeownership program case coordination
services, budget counseling, and community resources to help them achieve
their self-sufficiency goals.
To be eligible
for homeownership assistance, the family must meet the following requirements:
- The family
has been admitted to the Housing Choice Voucher Program.
- The family
is a first-time homeowner, meaning no member has owned an interest in
a residence during the past three (3) years.
- The family
has demonstrated that the gross income of the head of household and
spouse/partner, if applicable, is sufficient to meet homeownership and
other family expenses:
• In the case of a disabled family, the minimum income requirement
is the federal Supplemental Security Income (SSI) benefit for an individual
living alone multiplied by twelve.
• All other families must have a minimum annual income of 30%
of the area median for their household size.
Income received from public assistance programs will not qualify towards
the minimum requirement, except for elderly or disabled families who
are collecting social security or disability income.
- Except
for elderly or disabled families, the family must demonstrate that one
or more of its adult members is employed on a full-time basis (minimum
of 30 hours per week) and has a full-time employment record of at least
one year prior to application.
- The family
has not previously defaulted on a mortgage obtained through the Housing
Choice Voucher Program homeownership option.
- The family
is in good standing with the WHA. A family is in good standing if it
has no outstanding debt to the WHA for previous damages or unpaid rent,
has no history of late rent payments for the last two (2) years, and
has no violation of family obligations under the WHA’s Administrative
Plan.
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