KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership)

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) is down payment assistance for homebuyers in Knoxville, Tennessee, administered by Knoxville's Community Development Corporation (KCDC). KCDC's Homeownership Program allows existing Section 8 Housing Choice Voucher participants to use their voucher assistance toward buying a home. Eligible first-time homebuyers must have participated in the voucher program for at least one year, be employed at least one year (elderly/disabled exempt), and have minimum annual earned income of $14,500. Participants make a 3% down payment (at least 1% from their own funds) and complete pre-purchase homeownership classes. Converts Section 8 voucher rental assistance into monthly homeownership assistance. Low 3% down payment requirement. Supports first-time buyers, elderly, and disabled households. Manufactured and newly constructed homes eligible. Homebuyer education and post-purchase support. Funding comes from HUD Section 8 Housing Choice Voucher Program (Housing Choice Voucher Homeownership).

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) is down payment assistance and is repaid under the terms set by Knoxville's Community Development Corporation (KCDC). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through KCDC pre-purchase homeownership classes. Residency requirement: Existing KCDC Section 8 HCV participant for at least one year. Max term of homeownership assistance 15 years (20+ yr mortgage) or 10 years; no time limit for elderly/disabled. A HUD-approved lump-sum down payment grant option exists but HUD has not released funds. Assistance is a calculated monthly payment, not a fixed dollar figure.

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) sets its income limit as follows: Minimum income of $14,500 annual earned income (elderly/disabled exceptions). Standard HUD HCV income eligibility; at least one year of HCV participation. Disabled exempt from minimum income/employment. 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.

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) can be used for Single Family, Condo, Manufactured, and Other. New construction is eligible. Manufactured homes are eligible.

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) names homebuyers 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.

KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) serves homebuyers purchasing in Knoxville, Tennessee.

Applications for KCDC Homeownership Program (Section 8 Housing Choice Voucher Homeownership) go through Knoxville's Community Development Corporation (KCDC), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.