Marin Housing Authority



  • Housing Choice Voucher
    • Landlords >
      • How to Become a Section 8 Landlord
      • Landlord Advisory Committe
      • Direct Deposit ACH
      • Owner Resources >
        • Landlord Portal
        • Section 8 Owner Manual
        • Landlord Partnership Program
        • Landlord Newsletters
        • HUD
        • Go Section 8
        • Utility Allowance Schedules
        • More Resources
      • Ownership Change
      • HQS Inspection
      • Rent Reasonableness Determination
      • HAP Contract
      • Request Rent Increase
    • Participants >
      • Eligibility Screening
      • Qualifying for Housing
      • Transfer Process
      • Reasonable Accommodation
      • Informal Reviews and Hearings
      • Portability
      • Fair Housing
      • Move-In Process
      • Voucher Payment Standard
      • Forms
    • Fraud and Abuse >
      • Report Fraud and Abuse
    • Voucher Payment Standard
  • Public Housing
    • Reasonable Accommodation
    • Grievance Procedure >
      • Grievance Policy
    • Transfer Policy
    • Section3 >
      • Section 3 Covered Contracting Opportunities
    • Maintenance Service Charges
    • Fraud and Abuse
    • Resident Newsletter
    • Forms
    • Other Resources
    • GGV Revitalization Phase 1 >
      • GGV Revitalization Phase 2 >
        • Michaels Development - Phase 3
  • Waitlist
    • Waiting List
  • Resident Services
    • Supportive Housing Program >
      • Shelter Plus Care Program
      • Family Self Sufficiency Program (FSS)
      • HOPWA
    • Resident Advisory Board (RAB) >
      • Schedule
      • Minutes
      • Roster
  • Homeownership
    • Below Market Rate Homeownership Program >
      • Affordable housing and home buyer Readiness Program
      • 2018 BMR Lottery Drawings
      • 2019 BMR Lottery Drawings
    • Residential Rehab Loan Program
    • Mortgage Credit Certificate Program
    • Section 8 Housing Choice Voucher Homeownership Program
  • About
    • Contact us
    • News & Announcements
    • Public Comment Documents
    • MHA Developments
    • Approved Agency Plans, Reports, and Policies >
      • Financial Reports
    • Board of Commissioners
    • Partners
    • Business Opportunities >
      • RFQ Q18001- Master Developer/Developer Partner
      • Closed Procurements
      • IFB MHA-005-2017
    • Calendar and Events
    • Employment Opportunities
    • MHA Staff
    • MHA Board Meeting Videos
    • County of Marin Webcasts
    • More Resources
  • Housing Choice Voucher
    • Landlords >
      • How to Become a Section 8 Landlord
      • Landlord Advisory Committe
      • Direct Deposit ACH
      • Owner Resources >
        • Landlord Portal
        • Section 8 Owner Manual
        • Landlord Partnership Program
        • Landlord Newsletters
        • HUD
        • Go Section 8
        • Utility Allowance Schedules
        • More Resources
      • Ownership Change
      • HQS Inspection
      • Rent Reasonableness Determination
      • HAP Contract
      • Request Rent Increase
    • Participants >
      • Eligibility Screening
      • Qualifying for Housing
      • Transfer Process
      • Reasonable Accommodation
      • Informal Reviews and Hearings
      • Portability
      • Fair Housing
      • Move-In Process
      • Voucher Payment Standard
      • Forms
    • Fraud and Abuse >
      • Report Fraud and Abuse
    • Voucher Payment Standard
  • Public Housing
    • Reasonable Accommodation
    • Grievance Procedure >
      • Grievance Policy
    • Transfer Policy
    • Section3 >
      • Section 3 Covered Contracting Opportunities
    • Maintenance Service Charges
    • Fraud and Abuse
    • Resident Newsletter
    • Forms
    • Other Resources
    • GGV Revitalization Phase 1 >
      • GGV Revitalization Phase 2 >
        • Michaels Development - Phase 3
  • Waitlist
    • Waiting List
  • Resident Services
    • Supportive Housing Program >
      • Shelter Plus Care Program
      • Family Self Sufficiency Program (FSS)
      • HOPWA
    • Resident Advisory Board (RAB) >
      • Schedule
      • Minutes
      • Roster
  • Homeownership
    • Below Market Rate Homeownership Program >
      • Affordable housing and home buyer Readiness Program
      • 2018 BMR Lottery Drawings
      • 2019 BMR Lottery Drawings
    • Residential Rehab Loan Program
    • Mortgage Credit Certificate Program
    • Section 8 Housing Choice Voucher Homeownership Program
  • About
    • Contact us
    • News & Announcements
    • Public Comment Documents
    • MHA Developments
    • Approved Agency Plans, Reports, and Policies >
      • Financial Reports
    • Board of Commissioners
    • Partners
    • Business Opportunities >
      • RFQ Q18001- Master Developer/Developer Partner
      • Closed Procurements
      • IFB MHA-005-2017
    • Calendar and Events
    • Employment Opportunities
    • MHA Staff
    • MHA Board Meeting Videos
    • County of Marin Webcasts
    • More Resources
Picture
Section 8 Housing Choice Voucher Homeownership Program

Below is general information about the federal program that allows the HAP (Housing Assistance Payment) Subsidy to be used for a mortgage payment instead of rental assistance.
 
Eligibility Requirements:
  • Have a HCV Rental Voucher for at least one year; with no debts owed to MHA (or other HA)
  • Head of Household or Responsible Adult must be employed for minimum of one year at 30 hrs/week (unless Elderly/Disabled)
  • Must be first time homebuyer
  • Must participate in HUD certified Homeownership Counseling Course- see list of courses on our webpage
Minimum Income Requirements:  
  • The family must have a gross annual income equal to the Federal minimum wage multiplied by 2000, based on the income of adult family members who will own the home
  • For disabled families, the minimum income requirement is equal to the current SSI monthly payment for an individual living alone, multiplied by 12
  • Welfare assistance is not accepted as income, but  would be used in calculating rent
  • Must have at least enough for DOWN PAYMENT and CLOSING costs (closing costs are approximately 6% of purchase price;  20% of the purchase price for down & closing is realistic )
Special Exceptions for Elderly/Disabled Households
  • No time limits of assistance – will continue for the life of mortgage if eligibility continues
  • No minimum work requirements
  • Elderly/Disabled applicants still need to secure their own financing and to have adequate funds for down payment & closing costs
  • This most realistically works for households who receive inheritances,  special needs trusts, or have a large lump sum for down payment
 
Aspects to consider:
  • Household must qualify and secure their own financing from a bank (MHA will refer you to a lender familiar with the program)
  • Must secure a 30 year FIXED Rate loan – no Adjustable Rate Mortgages
  • Household would need to find a unit that they could afford (a below market rate unit)
  • The assistance from the Housing Authority lasts for a maximum of 15 years (except elderly /disabled)
  • Program is essentially established for communities where housing is more affordable – in the $100k -$200k range- very difficult in Marin & Bay Area; Program may be used with the BMR Lottery Program
How it actually works – THE FORMULA:
  • Total housing costs (mortgage, prop. taxes, homeownership dues, insurance) should equal payment standard for voucher size held (if 2BR: $2151)
  • If housing costs exceed payment standard, Marin Housing will allow household to pay maximum of 40% of monthly adjusted gross income out of pocket
 
For more information contact:
Gayle Suits
Section 8/ HCV Homeownership Program   (415) 491-2581;  gsuits@marinhousing.org  updated 6/30/16
​
2016 Section 8 Housing Choice Voucher Homeownership Program
File Size: 68 kb
File Type: pdf
Download File

HUD-Certified Homeownership Counseling Courses
File Size: 20 kb
File Type: pdf
Download File

Print Friendly and PDF
Icon with link to Announcements page
Announcements
Icon with link to Housing Voucher Program page
HCV Section 8
Icon with link to Reports page
Reports
Icon with link to Homeownership page
Homeownership
Icon with link to About Us page
About Us
Icon with link to Events page
Events
Icon with link to Residents page
Residents
Icon with link to Public Housing page
Public Housing


Links

Housing Choice Voucher (Section 8)
Public Housing
Resident Services
Homeownership Programs
​About Us
​Agency Reports
​Calendar of Events
​
News and Announcements

Please Give Us Your Feedback

Icon with link to website feedback page
Help us improve this site for you, give us your feedback please.

Contact Us

4020 Civic Center Drive
San Rafael CA 94903

Phone: (415) 491-2525
Fax: (415) 472-2186
TDD: (800) 735-2929

Email: info@marinhousing.org

Marin Housing's office hours:
Monday - Friday, 10:00 a.m. to 4:30 p.m.


​Home |  Website Accessibility Assistance | Give Your Website Feedback Here
Powered by San Francisco Bay Area's  EnlightWorks