Housing Choice Voucher Homeownership Program

The basic premise of the Housing Choice Voucher Homeownership Program is that the voucher subsidy can now be used to help a first time homeowner meet monthly mortgage expenses in addition to the former use of the voucher subsidy to help a family with the rent.

Who Qualifies?

In order to be eligible for the homeownership program a family must meet the following criteria:

  • The family must be a current voucher program participant or eligible for admission to the housing choice voucher program.
  • The family must have good credit and be able to obtain a mortgage based on their income, credit and debt.

  • The family must qualify as a first time homeowner. (No member of the family has had any ownership interest in a principal residence in the past 3 years)
  • The annual income of at least one adult family member who will own the home at the commencement of homeownership assistance must be equal to or greater than the Federal minimum hourly wage multiplied by 2000 hours. Meaning they must currently be employed on a full time basis and has been continually employed for at least one year.
  • For disabled families, annual income must be equal to the monthly Federal Supplemental Security Income (SSI) X 12. Welfare assistance shall be included only for adult elderly or disabled family members who will own the home
  • If any family member has previously defaulted on a mortgage when participating in the voucher homeownership option the family is ineligible for the homeownership option.
  • Except for cooperative members who have acquired cooperative ownership share to commencement of homeownership assistance, no family member may have a present ownership interest in a residential property.

  • The family must also satisfy any other initial eligibility requirements established by the Brunswick Housing Authority in the Administrative Plan. However, the Brunswick Housing Authority may not establish minimum requirements or employment requirements in addition to the standards established by the rule.

Eligible Homes

Homes eligible for this program are new construction, manufactured housing, pre-owned units and units owned or controlled by a Public Housing Authority. It is the family's responsibility to find a home that is eligible for the voucher homeownership assistance. If the family is already a rental voucher participant and is determined to be eligible, the Brunswick Housing Authority may authorize the family to search for a home to purchase without the interruption of their rental assistance. Families participating in this program may select an eligible unit anywhere within the Brunswick Housing Authority's jurisdiction. Families may purchase a unit out of the Brunswick Housing Authority's jurisdiction under the portability procedures of the voucher program but only if the receiving Public Housing Authority is administering a Homeownership Program and accepting applicants for their program.

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