Home ownership using Section 8 vouchers
| |Can I really own a home if I’m on Section 8?
The short answer is yes. Everyone wants the chance to own their home, and Section 8 participants are no different. Ownership will help you build equity and stability. If approved for the program it will allow the monthly Section 8 payment to be used to cover mortgage and other maintenance expenses.
General eligibility requirements
To be eligible for the program you must be a first time home buyer, but there is an exception, more on that later. Your home must pass an initial housing quality standards inspection conducted by the housing authority and an independent home inspection and appraisal before the housing authority may approve the purchase by the family.
So what’s the catch?
Well it’s my understanding that individual housing authorities have the final say over the additional requirements and that is where the difficulty comes in. For example in the Chicago housing authority you must:
- Join their pre-counseling program
- Earn at least $10,300 annually from employment, in essence, you must work
- Be in compliance with all the rules and regulations of Section 8
- Be a first time home buyer or not have owned a home for at least 3 years
- Preference is given to voucher holders who have had two years of continuous employment
Eligible families should contact their local housing authority to apply. For more information see this brochure
I was diagnosed with rheumatoid arthritis 21/2 years ago. My 2 adult children and myself currently rent in a section 8 complex. I work full time with accommodations for my disability and I pay the full rent by myself. My income is under $23,000. My oldest son paya few bills. Would I still qualify? If So, would it be faster since we live in a section 8 unit and my diagnosis.
I have no income im single and 19 can i get section 8
I would like to the procedure in the state Maryland for homeownership if you currently have a section 8 voucher?
I’m not sure. Each housing authority may have it’s own program.