What is the Homeownership Program?

The Housing Choice Voucher (HCV) Homeownership Program allows families or individuals currently participating on the Housing Choice Voucher Program, to substitute their rental assistance voucher into a mortgage assistance voucher. This allows participants to utilize their rental voucher to pay toward the mortgage of their first home.

The family or individual participates in case management services, attends Homeownership Education Course, repairs their credit resulting in an improved credit score, budgets and saves money. After the completion of the above, and when they are ready, they apply for a home loan. Upon pre-approval for a home loan, the family may begin searching for their new home.

What are the Program Qualifications?

• Must be a current participant on Fairfield Metropolitan Housing Authority’s Housing Choice Voucher Program
• Non-disabled families must be consistently employed full time for a year before the mortgage assistance begins
• Meet the gross annual income eligibility requirement
• Be a first time homebuyer (no family member has owned a home in the last 3 years)
• Have the ability and desire to save money and repair your credit
• Must be a HCV Family Self-Sufficient Participant with a signed contract

How to Apply for the Homeownership Program?

See how to apply for the Housing Choice Voucher Family Self-Sufficiency Program.

What are the Program Requirements?

• Must participate with quarterly home visits and monthly contact
• Complete Homebuyer Education Course (Offered by the Housing Authority)
• Save at least 3% of the purchase price of the home for which you would like to purchase (example: A house for $80,000 would require you to save $2400)
• Must work on repairing your credit and building credit
• Must be able to secure mortgage with a lender
• Remain in good standing with the Housing Choice Voucher Program

Contact us today!

Heather Currence
(740) 653-6618 extension 240
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