Program Requirements
- You must have had a CHA voucher or lived in public housing for at least one year.
- You need to be following all the rules of your lease and be in good standing.
- You must be buying a home for the first time and should not have owned a home in the last 3 years.
- You must meet the income, credit, and savings requirements.
Income
- Working or self-employed families must have a household income that is at least 50% of the area’s average income, according to HUD.
- Seniors (62+) or disabled heads of households need to have an income of at least $10,092 a year.
- To be eligible, your annual income cannot be more than 80% of the area’s average income.
Credit
- You must have good credit, with at least 1 year of a positive credit history.
Savings/Down Payment
- Working or self-employed families need to have $3,000 in a bank account and be able to keep saving money.
- Seniors (62+) or disabled heads of households need to have $2,000 in a bank account and be able to keep saving money.