
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:
Aspects to consider:
For more information contact:
Gayle Suits
Section 8/ HCV Homeownership Program (415) 491-2581; gsuits@marinhousing.org updated 6/30/16
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
- 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 )
- 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
- 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 | |
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HUD-Certified Homeownership Counseling Courses | |
File Size: | 20 kb |
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Contact Us4020 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. |