Section 8 Housing Choice Voucher Homeownership Program
Page 2

1) Borrowers who are Section 8 voucher holders that have been approved by their local Public Housing Authority

2) Borrowers who are first time homebuyers (people who have not owned or occupied a single residence within the last three years) or borrowers who are non-first time homebuyers but are looking to acquire a home in a targeted area

3) Borrowers whose annual income does not go beyond the limits ($81,000) that are set by the Connecticut Housing Finance Agency

4) Borrowers who have a reputable credit history

5) Borrowers who have a sufficient funds and a stable income to cover long-term mortgage fees

The properties that are eligible for purchase under the Section 8 Housing Choice Voucher Homeownership Program are the following:

1) Existing and new single-family homes, townhouses and Planned Unit Developments

2) Newly built homes that respectively meet the energy efficiency standards which are set by the United States Federal Housing Authority

3) Condominiums that are approved by the CHFA

4) Two- to four-family homes which have been utilized as residences within the past five years; or newly constructed two-family homes that are located in targeted areas

The program can also be used in conjunction with the CHFA's Downpayment Assistance Program. To read more about the program guidelines and application requirements, interested borrowers can visit the CHFA's official website.

Section 8 Housing Choice Voucher Homeownership Program
  Back to Page 1

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in New Hampshire
The State of New Hampshire gives great importance to the welfare and safety of its people. One of the ways of showing this is through the establishment of the New Hampshire Housing Finance Authority, which is specially designed to assist low to moderate income residents of New Hampshire in the process of procuring safe and affordable housing opportunities.

---

First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

---

Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency has constituted the estbalishment of the Keystone Home Loan PLUS Program wherein it aims to offer the lowest PHFA interest rate to first time home buyers in the State of Pennsylvania.

---

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---