Homeownership Program

Are you a participant in the tenant-based Section 8 program through the Delaware Metropolitan Housing Authority?  Are you interested in owning your own home?  If so, then the Section 8 Homeownership option may be for you!

The Department of Housing and Urban Development (HUD) created the Homeownership program for qualified tenant-based Section 8 residents.  These qualified residents are able to use their Section 8 Voucher subsidy toward a mortgage for the purchase of a home, rather than renting.  

Be working with local mortgage lenders and community services, we have make it possible for families to move from rental housing into affordable homes.

Once eligibility is determined, you will attend mandatory educational workshops.  When you complete the homebuyer education, you may be ready to seek financing at the lender of your choice.

Program Qualification

To qualify for participation in the Section 8 Homeownership Program, you must:

1. Be a current participant in the Housing Authority's tenant-based Section 8 program.

2. Be consistently employed full-time for a year before homeownership assistance begins.

3. Elderly and disabled individuals are eligible and exempt from the employment requirement.

4. Meet gross annual income requirements of $11,700.00

5. Be in full compliance with your lease and other Section 8 programs, such as Family Self-Sufficiency (FSS).

6. Not have owned a home in the past three years.

7. You must attend pre-assistance counseling education classes.

If you meet the preliminary program qualifications, you could qualify for a subsidy that would help you pay a mortgage on your own home.

The Steps to Homeownership

If you think you might meet the program qualifications, call Cindi Kauble, DMHA Homeownership Coordinator, at (740) 369-1881 or by e-mail at kauble_dmha@verizon.net  to see if you qualify.

If you qualify, you will be signed up for the next Section 8 Homeownership orientation and pre-assistance classes.

When you are determined mortgage ready, your next step will be to seek financing at a local mortgage lender.

After you are pre-approved for a first mortgage, you can begin shopping for you home.  You can use a Realtor or look on your own.

After you have found a home in your price range, had it inspected by an independent home inspector and DMHA (to meet Housing Quality Standard requirements established by HUD) and financing requirements are met, you can close on your new home!

Website Designed by:  www.nfolink.net