I came across an article on the HUD.GOV website, and I wanted to share it with all my readers because I honestly did not know a Housing Choice Voucher (HCV or Section 8 Voucher) could be used to purchase a house.
The HCV homeownership program allows families who are already assisted under the Section 8 program to use their voucher to buy a home and receive monthly assistance.
The homeownership is not offered in every Public Housing Agency (they have the option to implement the homeownership program).
To participate in the HCV homeownership program, in addition to already having your Voucher, each family must meet specific income and employment requirements (which does not apply to elderly and disabled families), must also be a first time home-owner, attend and complete the pre-assistance homeownership & housing counseling program, and meet any additional eligibility requirements.
For more information, please visit their website and check out the guidelines for each individual state.
>>> Use your voucher to buy a house?