housing choice voucher home ownership program
DESCRIPTION
he Edinburg Housing Authority Housing Choice Voucher Home Ownership Program brochure is an informative publication directed to the general public and current Public Housing and Section 8 participants. It contains information about the Edinburg Housing Choice Voucher Home Ownership Program. The brochure includes a list of requirements and obligations are listed for the interested applicants. A section in the brochure contains information about homebuyer education and agencies that provide homeownership counseling. Office hours, telephone numbers and email address to the agency are also included.TRANSCRIPT
Apply today!
EDINBURG HOUSING AUTHORITY
Over 90 Section 8 and Low Rent residents have participated in the homebuyer education course before buying their home, and are glad they did. In a step-by-step format, classroom participants examine their housing needs, analyze their financial situations, and learn strategies to improve financial management in an effort to better prepare for homeownership. In addition, participants learn how to shop for a home, improve their credit, obtain a mortgage, and prepare for life as a homeowner. The classes are highly recommended for, and by, first-time homebuyers. When recent graduates were asked about their experience, they replied, “The class was great – better than great.”
Local counseling agencies provide a homebuyer class for future homebuyers.
COTO DE CASA – MISSION HOUSING AUTHORITY
1300 E 8th Street, Mission, TX
585-9756 – ask for Mat Munoz or Maria Salazar
$35 fee
MCALLEN AFFORDABLE HOMES
Aide De La Fuente (956) 447-8909
$35 fee
CONSUMER CREDIT COUNSELING SERVICES
Contact: Janie Alegria
(956) 428-0072
HOUSING CHOICE VOUCHER HOMEOWNERSHIP PROGRAM
Ciro Trevino Administration Building
910 S. Sugar Rd. Edinburg, Texas 78541
956-383-3839 [email protected]
www.edinburgha.org
Making homeowners since 1991
If you meet all the requirements and interested in applying for the Edinburg Housing Authority’s Homeownership Program, call Olga Regalado, Sec.8 Manager & Homeownership Coordinator at (956) 383-3839 or come by the office at
Office hours:
Monday – Thursday 8:00 a.m. – 5:00 p.m.
Friday 8:00 a.m. – 12:00 p.m.
E-mail:
[email protected] www.edinburgha.org
CONTACT USCONTACT USCONTACT US
HOMEBUYER EDUCATION, HOMEBUYER EDUCATION, HOMEBUYER EDUCATION,
ESSENTIAL FOR FUTURE ESSENTIAL FOR FUTURE ESSENTIAL FOR FUTURE
HOMEBUYERSHOMEBUYERSHOMEBUYERS
Would you like to become a homeowner?
Participation in the Section 8 Home Ownership Program is voluntary. Each Section 8 Home Ownership participant must meet the general requirements for admissions to the Section 8 housing choice voucher program as set for in EHA’s Administrative Plan. Such Section 8 family must be “eligible” to participate in the Home Ownership Program.
The Edinburg Housing Authority will provide the following if the family qualifies for the Home Ownership Program.
Monthly home ownership assistance payments (For Section
8 Participants only)
All interest applicants must meet the requirements in order to apply for
program. The Edinburg Housing Authority does not discriminate against race, color, national origin, sex, religion, familial status or disability.
HOMEOWNERSHIP PROGRAMHOMEOWNERSHIP PROGRAMHOMEOWNERSHIP PROGRAM
Must be a first-time homebuyer
Must be in Public Housing or Section 8 for at least one year.
Must meet minimum income requirement. Except in the case of disabled families, the qualified annual income of the adult family members who will own the home must not be less than the Federal minimum hourly wage multiplied by 2,000 hours. For disabled families, the qualified annual income of the adult family members who will own the home must not be less than the monthly Federal Supplemental Security Income (SSI) benefit for an individual living alone multiplied by 12.
Must have a good and established credit. The bank will determine if family qualifies for loan.
Must not be in default on a mortgage securing debt to purchase home under the homeownership option.
Must not owe money to the Edinburg Housing Authority
Must not have a present homeownership interest in a residence at the commencement of homeownership assistance for the purchase of the home.
Must sign a contract of purchase and sale.
The unit has to be eligible.
Must complete satisfactorily the PHA Program of required pre-assistance homeownership counseling (home maintenance, budgeting, money management, credit counseling)
Environmental requirements. The PHA must comply with authorities of this title requiring the purchaser to obtain and maintain flood insurances for units in special flood hazard areas.
ONCE YOU’RE ONCE YOU’RE ONCE YOU’RE ACCEPTED...ACCEPTED...ACCEPTED...
Within a specific time, locate the house they wish to purchase
Submit sales price agreement to the EHA
Allow EHA to conduct an inspection of the house
Obtain an independent inspection covering major building systems
Obtain EHA approval of the proposed mortgage
Enter into a written agreement with EHA to comply with all of its obligations
Participate in a EHA-approved Home Own-ership Counseling Program on a continuing basis
Comply with mortgage terms
Supply required information to EHA, in-cluding but not limited to annual verifica-tion of household income, changes in household composition, notice of change in homeownership expenses, notice of move-out, and notice of mortgage default.
DO DO DO YOU QUALIFY?YOU QUALIFY?YOU QUALIFY?
A family’s Home Ownership Assistance may be terminated if the family fails to comply with its obligations under the Section 8 Program, EHA Home Ownership Policies, or if family defaults on the mortgage.
TERMINATION OF HOME OWNERSHIP ASSISTANCE