Section 8 Homeownership Voucher Program

Department of housing and urban development hud.

Section 8 homeownership voucher program. The reasoning behind the homeownership program is that rather than giving that money to a landlord every month the government might as well allow recipients to use those same funds to buy a home instead. Department of housing and urban development hud webpage. The section 8 tenant based assistance.

Under section 8 qualified families can have a portion of their rent paid through what s called the housing choice voucher program. The housing choice voucher program is the federal government s major program for assisting very low income families the elderly and the disabled to afford decent safe and sanitary housing in the private market. People who currently have a hud tenant based section 8 voucher a k a.

The program also provides assistance to senior citizens and disabled persons on fixed incomes displaced families and. The housing authority can use that voucher to pay for monthly homeownership expenses. The homeownership voucher program is for families who currently have a section 8 voucher housing choice voucher hcv from a participating housing authority.

Section 8 homeownership program the following is excerpted from the u s. Participants in the new jersey department of community affairs dca section 8 housing choice voucher program are eligible for this program and could become homeowners provided they meet all section 8 homeownership program eligibility requirements. What are housing choice vouchers.

Home what we do housing choice voucher program section 8. The section 8 housing choice voucher hcv program enables the lowest income households in new york state to rent or purchase decent safe housing in the private housing market by providing rental and homeownership assistance. You must call your local housing authority to see if they participate.

The section 8 homeownership program is funded by the u s. The hcr section 8 voucher home ownership program has evolved from a small pilot program in calendar year 2000 to its current status as a national leader in home ownership closings where section 8 voucher assistance is available and being used to help families obtain and retain a home of their own. The text of the rule can be found on the hud home page.