// SECTION 8 HOMEOWNERSHIP Opportunities

RRHA offers homeownership opportunities through the HUD approved Section 8 Homeownership Program. This program allows those families currently receiving housing assistance under the Section 8 program to convert that assistance into a one-time down payment or monthly payments to assist with a mortgage that will allow them to purchase a home.

Section 8 Homeownership Program

The Section 8 Homeownership Program allows a family to purchase a home for approximately the same amount of rent that is currently being paid to a landlord. Once a mortgage company approves a borrower's application, the Section 8 voucher payment is applied to the mortgage payment rather than a rent payment.

Section 8 Homeownership Program Qualifications

Be a current holder of a Section 8 Voucher.
Have an income of $18,000.00 (elderly and disabled are exempt).
Have steady full time employment for no less than 12 months.
Be a first time homebuyer.
Be in compliance with the current lease (not owing landlord any money, no tenant violations).
Have 1% downpayment saved and in the bank.
Not have high existing debt which would prevent obtaining a mortgage.

For more information on how you may participate in the Section 8 Homeownership opportunities contact us at (540) 983-9243 or e-mail us at homeownership@iamrrha.org.