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Housing Choice Voucher Homeownership Program


What is the Housing Choice Voucher (HCV) Homeownership Program?
As an extension of the Housing Choice Voucher (HCV) program, HAFC provides assistance for eligible individuals/ families to purchase a home by applying their existing housing choice voucher to their monthly mortgage payment instead of their monthly rental payment.  

A Housing Choice Voucher program participant who wishes to utilize their voucher subsidy to purchase rather than rent a home must meet the following initial eligibility requirements:
MUST be enrolled in the Family Self-Sufficiency (FSS) Program
MUST meet the required HAFC credit score of 620
MUST have earned income of $20,000 annually
MUST be on same job for 1 year
MUST be a HCV participant with HAFC for one year
MUST be a First Time Homebuyer
(no family member has owned a house in three years)
MUST be in full compliance with the current lease
MUST get permission from initial HA in writing (Ports Only)
MUST attend a mandatory homeownership orientation

Disabled or Elderly households are exempt from the employment requirement

The monthly minimum Federal amount is $674 for an eligible disabled individual.
Elderly, age 62 or older, must meet the income criteria of $20,000 annually unless they are disabled, then the maximum amount will be $674.

After attending the mandatory homeownership orientation:

Bring the following documents to the initial homeownership program appointment:

  • Identification for all household members who are age 18 or over
  • Social Security cards for all household members
  • Three (3) years of tax returns
  • Income Verification (current check stubs – (4)
  • Need entire household’s income verification
  • Current Award Letter from Social Security, SSI, VA, etc. (can’t be over 60 days old)
  • Bankruptcy Discharge Papers (has to be out of bankruptcy for 2 years)
  • Current Lease
  • eBank Statements (3 months of checking and savings)

 

Application Process:  Persons interested in participating in the Housing Choice Voucher Homeownership Program MUST contact their HCV Case Manager FIRST for eligibility purposes.

Waiting List:  There is no waiting list

Please contact Iris Conners for additional information on the HCV Homeownership Program.

Iris Conners, FSS/Homeownership Specialist
Certified Housing Counselor

Office:(404) 588 - 4972
Fax: (404) 472 - 3484

Email: iconners@hafc.org