FAQs

The HCV Homeownership Program helps families purchase a home by allowing them to use their HCV subsidy toward the mortgage for up to 15 years.

The program is open to all HCV participants; however there are some additional initial eligibility requirements. You must also

• Be a first time homebuyer
• Be in compliance with your lease agreement with your current property owner
• Have the minimum annual income of $15,700(excluding welfare, unless family is disabled or elderly) and at least one family member must be employed full-time (at least 30 hours a week) continuously for at least one year.
• Be enrolled in or a graduate of the Family Self-Sufficiency Program (elderly and disabled families are exempt)
• Have a minimum savings of at least $500 in a personal savings account

CMHA works in collaboration with HUD – approved community agencies to provide classes to those interested in purchasing homes. Many of these programs offer classes free-of-charge.

Families who have met the initial eligibility requirements are referred to homeownership, budgeting and credit counseling classes.  When families are able to qualify for a mortgage they can choose a real estate agent and begin to look at properties.  Once a house is chosen and passes all inspections, CMHA will pay the subsidy amount toward the mortgage, and the family pays the remaining amount.  View a typical participant's homeownership process.

Contact your Program Coordinator Today!

In addition to purchasing the home, expenses such as utilities, water bills, homeowner’s insurance, property taxes, maintenance and repairs can cause hardships for families who do not plan adequately. With proper planning and budgeting, homeownership can be within your reach.

If you are a property owner and you wish to sell your house, list it with a realtor as you normally would.  Our potential homeowners have a realtor who assists them in finding their house, and if your house meets their criteria, they may consider your house during the process.

The best way for agents to connect with our potential homeowners is to contact Working In Neighborhoods, Inc. The agency is HUD-approved to provide homeownership education and assistance to families on CMHA’s FSS program.

As with the regular HCV voucher, you may choose to buy any house that falls within your price range.  You do not have to buy the house in which you are currently living.

The HCV Homeownership voucher may be used anywhere throughout Hamilton County.