The Housing Choice Voucher Program (formerly Section 8) provides tenant-based assistance, in the form of a voucher, to low-income families, seniors and persons with disabilities for rental units chosen by the tenant in the private market. The Housing Authority provides payments directly to participating property owners to offset the cost difference between tenant payments and unit rent. If you are a Housing Choice Voucher holder and have the desire to own a home of your own, the Housing Choice Voucher Homeownership Program may be right for you.
Housing Choice Voucher – The Road to Family Self-Sufficiency
Dear Housing Choice Voucher Participant:
If you are a Housing Choice Voucher holder and have the desire to own a home of your own, the Housing Choice Voucher Homeownership Program may be right for you. The Housing Choice Voucher Homeownership Program is a federally funded program that allows families with a Housing Choice Voucher (HCV) to use their to purchase a home, rather than rent. The HCV Homeownership Program is for first time homebuyers (a person whom does not own a home or have not owned a home during the past 3 years)
If you are interested in the Homeownership Program, you must reach out to your caseworker to get the process started.
Prior to commencement of homeownership assistance the family:
- Must be a current HCV participant or has been admitted to the HCV Program
- Must be a first-time homeowner
- Must meet the minimum annual income requirements
- Must satisfy the employment requirement
- Must be in full compliance with their current lease with no lease violations in the prior 12 months.
- Must be in good standing with PAHA, having no outstanding debts to the PHA or another PHA
- Must not currently owe outstanding debts pursuant to a court judgement for damages or unpaid rent and have a limited history of late rental payments
- Must not have entered into Contract of Sale
- Must not have defaulted on a mortgage securing debt incurred to purchase a home under the HCVP
- Must satisfactorily complete and provide verification of participation in a pre-assistance homeownership counseling, financial literacy training and home maintenance training by a homeownership counseling agency approved by the PHA and/or HUD
- Must have a FICO score of 620 or greater
- Must execute a Statement of Homeownership Family Obligations in which the family agrees to comply with all family obligations under the HCVHP