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Homeownership Resources for Voucher Holders - Welfare to Work Vouchers

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 Information by State
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Did You Know?
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PHAs that were funded under the FY 2001 FSS NOFA that offer homeownership opportunities to FSS program participants may apply for funding for an additional coordinator position in 2002 to support homeownership activities for its FSS program participants. View our

Summary of Funding Availability for Housing Choice Voucher FSS Program Coordinators for more information.

An interim rule was issued on October 28, 2002, stating units owned or controlled by PHAs, qualify for purchase under the Housing Choice Voucher Program homeownership option.

On November 6, 2002, a correction to this interim rule was issued.

On October 18, 2002, an implementation (Adobe PDF, 13 pages) to section 301 of the American Homeownership and Economic Opportunity Act of 2000 was issued, amending the "homeownership option" in the Housing Choice Voucher Program.


Overview

To most, owning a home signifies achievement of the American dream. From a financial standpoint, homeownership can also help families build equity, incur tax benefits, and improve their credit rating. Homeowners have the additional benefit of investing in a property that may increase in value, which can bring even great financial stability and improve a family's chances of upward mobility. Through innovative programs and encouragement of WtW staff, many WtW Voucher recipients can now achieve the dream of homeownership. The links below provide a good starting point for learning about homeownership programs and other home-buying resources. With these links, WtW staff can learn about Individual Development Accounts that can provide their clients with incentives to save money for buying a home. Staff can also access resources through the HUD homebuyer page that will help demonstrate the benefits of buying versus renting to their WtW clients. These links also connect staff to innovative programs, such as the Section 8 Homeowner Program, which can help staff see how home-buying options can be made accessible to clients through more formalized efforts.

Check back for more resources in coming weeks!

Resources

 -   Section 8 Homeownership Program; Final Rule
 -   Section 8 Voucher Homeownership Training
 -   HUD Homeownership Vouchers
 -   Using Individual Development Accounts
 -   Fannie Mae's American Dream Commitment
 -   More HUD resources on Homeownership
 
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