Section 8 Homeownership Opportunities
RRHA offers homeownership opportunities through the HUD approved Section 8 Homeownership Program. This program allows families who are 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
- 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% down payment saved and in the bank
- Not have high existing debt which would prevent obtaining a mortgage
- Elderly and disabled have separate requirements
To request a homeownership application contact RRHA at (540) 983-9218 or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..