NOTE: To be eligible for this program, participants must already receive Section 8 rental or public housing assistance.
Through the Homeownership Program, eligible Public Housing residents and Housing Choice Voucher (Section 8) participants use their housing subsidy toward a mortgage payment instead of rent. Participants must complete pre-purchase homeownership counseling and meet a strict set of eligibility guidelines, as well as ongoing requirements for continued assistance.
The term of assistance is 15 years if the mortgage has a term of over 20 years and 10 years in all other cases (exceptions are made for elderly and disabled families). This assistance can only be used toward monthly mortgage payments. Program participants must cover all costs associated with inspections, down payment, closing costs and ongoing home maintenance.
If you receive Section 8 rental or public housing assistance, the first step is attending an Orientation to hear all about the program and decide if it is right for you. Call (502) 569-6060 extension 6960 to hear the schedule of Orientations.