Section 8 Home Ownership Program

Section 8 Home Ownership Program est une subvention pour les futurs propriétaires de Yuma, Arizona. HUD Housing Choice Voucher Homeownership Option administered locally by the Housing Authority of the City of Yuma (HACY). Rather than a closing-table grant, the program converts a family's monthly Section 8 rental subsidy into a monthly homeownership assistance payment that helps cover the family's mortgage and housing costs. Operated in conjunction with HACY's Family Self-Sufficiency (FSS) program; FSS escrow earned during the rental period is typically used as the down payment, often leveraged by partner programs (WISH/IDEA) at $4-to-$1 match up to $22,000. HACY received the HUD Phoenix Field Office's MVP Award in 2008 and 2013 for this program. Existing HACY Housing Choice Voucher (Section 8) holders may use their monthly voucher subsidy toward homeownership expenses (mortgage principal, interest, taxes, insurance, utilities, HOA, and maintenance allowance) instead of rent. Subsidy continues monthly for up to 10 years (15 years if first mortgage term is 20+ years). Elderly or disabled families have no maximum term. The Family Self-Sufficiency (FSS) escrow plus partner programs (WISH/IDEA) can provide matched down-payment funds — up to $4 in match for every $1 of FSS escrow, capped at $22,000. Le financement provient de HUD Housing Choice Voucher (Section 8) Annual Contributions Contract (ACC) funding.

Section 8 Home Ownership Program prend la forme d’une subvention : elle n’est donc pas remboursée. Le remboursement est déclenché par Not applicable — this is a monthly subsidy, not a repayable loan. Subsidy ends if family violates program rules, sells the home, ceases owner-occupancy, exceeds income limits, or reaches the maximum term (10 or 15 years et no limit for elderly/disabled). Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

Section 8 Home Ownership Program est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : Displaced homemakers, single parents, cooperative members, and disabled families are exempt from the three-year first-time-buyer rule. Au sujet du crédit, le programme précise : Set by first-mortgage lender; HACY has no separate program credit-score minimum. Un cours pour futurs propriétaires est obligatoire, auprès de WACOG (Western Arizona Council of Governments); HACY FSS Homeownership Coordinator; HUD-approved counseling agencies. Condition de résidence : Family must be a current HACY Section 8 Housing Choice Voucher participant; home must be located in HACY's jurisdiction (City of Yuma) or in an area where the family ports the voucher with receiving-PHA agreement. Citoyenneté ou statut d’immigration : U.S. citizen or eligible non-citizen with qualifying immigration status (HUD requirement). Must be a current HACY Housing Choice Voucher (Section 8) participant in good standing. Must have completed initial Section 8 lease term (one year continuous tenancy). Must be a first-time homebuyer (no ownership in the past three years), with exceptions for displaced homemakers, single parents, cooperative members, and disabled families. Head of household, spouse, or other adult owner must meet minimum annual income equal to local minimum wage x 30 hours/week x 52 weeks (welfare assistance not counted toward minimum income, except for disabled/elderly heads). Disabled-family minimum income is the monthly Federal SSI benefit x 12. Must be continuously employed at least 30 hours/week for at least one year prior to homeownership commencement (employment requirement waived for elderly/disabled families). Mandatory pre-purchase homeownership counseling. Home must pass an independent professional inspection and HUD HQS inspection. Family must obtain a fixed-rate or HUD-approved ARM first mortgage. Maximum homeownership assistance term: 10 years (15 years if first mortgage term is 20+ years); no time limit for elderly or disabled families. Program limited to 5% of HACY's authorized Section 8 voucher units, excluding elderly/disabled families.

Section 8 Home Ownership Program plafonne le revenu du ménage à 50 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. Family must already be an admitted Housing Choice Voucher participant (initial admission requires income at or below 50% AMI; up to 80% AMI for current participants). Minimum income: local Yuma minimum wage x 30 hours x 52 weeks (welfare income excluded except for elderly/disabled). Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

Section 8 Home Ownership Program plafonne le prix d’achat ainsi : No program purchase-price cap, but the home must be supported by the voucher subsidy and pass HQS plus an independent inspection. Family must demonstrate ability to afford ongoing housing costs. Les types de logements admissibles comprennent Single-family detached, condo, townhome, cooperative, and manufactured home on owned land — all subject to HQS and independent inspection. Les constructions neuves sont admissibles. Les maisons préfabriquées sont admissibles.

Section 8 Home Ownership Program s’adresse aux futurs propriétaires qui achètent à Yuma, Arizona.

Les demandes pour Section 8 Home Ownership Program passent par l’organisme gestionnaire, qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire de Application through HACY FSS / Homeownership Coordinator; limited to current voucher holders meeting eligibility criteria. Hey Prescott n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.