This program offers eligible participants in the HCVH program an option to own their own home, using their Housing Choice Voucher.
 
The voucher for homeownership works similarly to the voucher for rental. The household spends approximately 30% of its income for the mortgage payment and the voucher pays the difference. The family using its voucher for homeownership must be able to qualify for a mortgage according to the accepted and prevailing industry loan qualification requirements.
 

HOC’s HCVH program works with 25 households at a time which are selected by HOC through a random selection process. This program is active but is not automatically open to any voucher holder.

  • Families are selected through a Commission approved random selection process
  • They must be a current HCV Program Recipient
  • The minimum income is $35,000
  • The family must meet the minimum down payment of 3% of purchase price, 1% must come from family’s personal resources
  • You must work at least 30 hrs per week and employed for at least one year*
  • The families must participate in Family Self Sufficiency Program (FSS) – at least two years)*
  • The family must complete homeownership counseling provided by HOC or an agency approved by HUD and or HOC prior to homeownership assistance
  • The family can not have any outstanding debt to HOC or any other Housing Agency
  • The family must be a first time homebuyer, and no member of the household can have ownership interest in a residence
  • If previously married and you owned a home with your spouse, and now you are a single parent, displaced homemaker, you will be considered as a first time homebuyer

* Elderly or disabled are exempt from some requirements


The program is currently CLOSED

 Who should apply to the HOC/HOP program
 
Applicationfor HOC/HOP Program: (This is NOT the Housing Choice Voucher Waiting List application)

FAQ for HOC Residents

Free Credit Report

 

Other HOC Homeownership Program