Yes, you can! 

As long as your Housing Authority offers the Homeownership Program and you are able to meet the minimum requirements, Homeownership is a very real possibility for you!

Your very first step is always to contact your local Public Housing Authority and verify they offer the HCV Homeownership Program as an option. If they do not offer this program, your voucher cannot be converted.

The Federal Minimum Requirements are:

• Be a current Housing Choice Voucher participant.

• Be continuously employed for at least one year andmake at least the minimum hourly wage as defined by the federal government.
  *The elderly and/or disabled are exempt from this requirement.

• Have a minimum of $1,000 saved to enter the home ownership program with the Housing Authority.

• Must have a credit score (FICO) of 640 or above.

• Must be a First-Time Homebuyer. For this program, “First-Time Homebuyer” simply means you cannot have owned a home in the last 3 years.

While these are the Federal Minimum Requirements, Public Housing Authorities have the discretion add extra requirements for qualification. Once you’ve confirmed your PHA offers the Homeownership Program as an option, make sure to obtain their minimum requirements as well.

If you’re having trouble finding the answer to this, you’re not alone.

The HCV Homeownership Program is still relatively unknown in the big picture, and because of that, getting a definitive answer — even from the Public Housing Authorities that administer it — can be challenging.

Your first step if to get in touch with your Public Housing Authority that administers your Voucher/HAP. If they are unsure, and the PHA’s website offers no solid answers, that’s what we’re here for.

We’re well resourced with a network of nationwide advocates in this space, and if you’re not getting the answers you need, that’s exactly our mission.

Reach out directly via our Contact Form and we’ll get the answers to all of your questions.

MAYBE!

We know that hearing that your PHA doesn’t currently offer the HCV Homeownership Program can be disappointing.

However, depending on your individual circumstances, you may still be able to qualify for exemptions that would allow you to convert your voucher to purchasing a home.

Contact us - if there IS an exception that is available, we WILL find it for you.

Up front, out of pocket costs related to Home Ownership are one of the largest hurdles most Buyers encounter.

Thankfully, there are many different Down Payment Assistance programs available nationally that may be available to you.

Between local, county, and state programs, there may very well be an option that gives you the solution to clear that hurdle.

With our combined years of experience, nationwide network of resources, and wide channel of open communication with Affordable Housing Advocates, if there is a program or a path that will work for you — we will find it.

Contact us!

You can reach us anytime via our contact page.

There is no cost nor obligation, our mission is to connect HCV Recipients with the resources they need to make their dreams of Homeownership a reality.

We aim to respond quickly—usually within one business day.