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.
Currently HAFC only offers Home Ownership to HAFC Voucher Holders
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 attend a mandatory homeownership orientation
Disabled or Elderly households are exempt from the employment requirement
The monthly minimum Federal amount is $733 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 minimum amount will be $733.
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, Resident services manager
Certified Housing Counselor
Office:(404) 588 - 4972
Fax: (404) 472 - 3484