Yes, if you're reading that correctly. Most people are unaware that you can purchase a single family home, co-operative, condominium or manufactured home that a family chooses to purchase with
YOU CAN PURCHASE A HOME WITH SECTION 8
Dated: July 26 2022
Yes, if you're reading that correctly. Most people are unaware that you can purchase a single family home, co-operative, condominium or manufactured home that a family chooses to purchase with their section. The home you deceide on must past a Housing Quality Standards (HQS) inspection first. The program allows this because they do rather see Section 8 recipients purchase a home instead of paying rent to landlords. This way the funds is used to invest in something the family will own themselves.
As many families sign up to receive the Section 8 voucher and the waiting time in many cities is years out. For those that are fortuante to get a approved for the voucher. The voucher can in many states be used to help low-income, elderly and disable people find affordable and safe housing. Section is not just primarily used to just assist with paying rent but can provide a way for families to purchase a home as well.
If you qualify for the program you can possible receive up to 15 years of Section 8 Home Ownership Assistance. If your disable or elderly or have a family member who lives with you that is disabled or elderly the 15 year limit may not apply.
In addtion, qualified families can also received down payments, closing costs, and other benefits.
Section 8 is managed by local Public Housing Agencies and they decide whether or not a participant can use their vouchers towards the purchase of a modest home. Therefore, if you currently have Section 8 and did not know this bit of information, check with your Section 8 office in your state/city and ask about their requirments and qualifications. Investing into a home that is yours is a great thing.
My name is Latricia Taylor, I am a Real Estate Agent with eXp Realty in Jacksonville, FL. I am ready to assist you with securing your dream home Taylor Made to fit you and your family. I am also able ....