Let the Government Help You Buy Your Home

Homeownership vouchers assist first-time homeowners with their monthly homeownership expenses. The home must pass an initial housing quality standards inspection conducted by the Public Housing Agency (PHA) and an independent home inspection before the PHA may approve the purchase by the family. PHAs may choose to administer a homeownership program, but are not required to do so. The PHA may impose limits on the size of this program, or limit use of the option to certain purposes. However, PHAs must provide home ownership assistance when required as a reasonable accommodation to a family with a disabled person. There are low-income requirements. At least 75% of the families admitted into the voucher program must have an income that does not exceed 30% of the median income for the area. Except in the case of an elderly household or a family with a disabled person, welfare assistance is not counted in determining whether the family meets this requirement. There may be other eligibility requirements. (14.871 Section 8 Housing Choice Vouchers) . If you are interested in applying for a voucher, contact the local public housing agency or HUD office near you or check out the program online at www.hud.gov/offices/pih/programs/hcv/index.cfm

 

Income Eligibility: Contact HUD for income requirements

 

The Free Money Money Club provides free training videos, live assistance and more, including business grant .

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