Mobile Housing Authority HCV Homeownership Assistance Program

What is Mobile Housing Authority HCV Homeownership Assistance Program?

Mobile Housing Authority HCV Homeownership Assistance Program is down payment assistance for homebuyers in Mobile, Alabama, administered by Mobile Housing Authority (MHA).

• Mobile Housing Authority's HCV Homeownership Assistance Program has, for nearly two decades, helped Housing Choice Voucher participants transition from renting to homeownership by applying voucher assistance toward monthly mortgage payments. Requirements include good rental history, first-time homebuyer status (no homeownership in the last 3 years), at least 2 years stable employment, meeting a minimum annual income requirement, a down payment of at least 3% (with 1% from the family's own resources), and completing HUD-approved housing counseling. MHA also assists participants using the City of Mobile HoPE program.
• Monthly mortgage assistance via Housing Choice Voucher.
• Pathway from renting to homeownership.
• HUD-approved housing counseling.
• Can be combined with City of Mobile HoPE Program.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD Housing Choice Voucher (Section 8) program.

Do you have to pay it back?

Mobile Housing Authority HCV Homeownership Assistance Program is down payment assistance and is repaid under the terms set by Mobile Housing Authority (MHA).

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Mobile Housing Authority HCV Homeownership Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Mobile Housing Authority HCV Homeownership Assistance Program sets its income limit as follows: Minimum annual income equal to federal minimum wage times 2,000 hours; for disabled families, not less than monthly federal SSI for an individual living alone times twelve.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Mobile Housing Authority HCV Homeownership Assistance Program can be used for Single Family.

Is there eligibility for specific groups?

Mobile Housing Authority HCV Homeownership Assistance Program names buyers with disabilities among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Mobile Housing Authority HCV Homeownership Assistance Program is a federal program, so it is not limited to Alabama.

How do you apply?

Applications for Mobile Housing Authority HCV Homeownership Assistance Program go through Mobile Housing Authority (MHA), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved housing counseling program.

2. 2

   Contact Mobile Housing Authority (MHA) to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.