Participant Eligibility

• The family must be in good standing in meeting the Section 8 Program and Family Obligations.



• At least one adult family member who will own the home must have been consistently employed full-time for one year prior to receiving homeownership assistance.



• At least one adult family member who will own the home must have been consistently employed full-time for one year prior to receiving homeownership assistance.

• The family must earn more than the annual gross income requirement of $10,300 per year.

• Elderly and disabled families do not have to meet the work requirement, however, they must have an annual income equal to the monthly Federal Supplemental Security Income (SSI) benefit for a single person, multiplied by 12.

• Family must be willing to complete both pre-assistance and post assistance mandatory training and counseling sessions. At minimum training will include, budgeting/money management, credit counseling, price negotiation, home financing, home inspections, locating a home and settlement procedures.

• Family must be required to put at least three (3) percent of the purchase price down on the property with at least one (1) percent coming from the family?s own personal resources. FSS Escrow Account funds will count as family resources upon qualifying to receive them.

• Family must have the potential to obtain financing, either through its own means or as the result of participation in a credit counseling program.

• Must be a ?First Time? homebuyer. In order to qualify as a first time homebuyer, no family member must have owned title to a principal residence in the last three (3) years. Single parents or displaced homemakers who, while married, owned a home with a spouse would still be eligible under this definition.