The Housing Authority of the City of Frederick (HACF) Homeownership Voucher program is designed to assist Housing Choice Voucher (Section 8) residents in purchasing a home. The program is designed to help residents set goals, clear their credit report and assist in purchasing a home.
Janet Fogle, Homeownership Coordinator
How does the voucher work?
The voucher program payment standard is used to determine the amount of subsidy. You will have to pay at least the total tenant payment, but instead of the HACF paying the voucher assistance to your landlord, the payment is made to your mortgage company.
What are the benefits to owning my own home?
A home is a place you can call your own. Buying a home gives you the opportunity to settle into a community. It allows you to adapt your living space to suit your individual taste and needs. Buying a home can also stabilize your housing costs. While rent goes up year after year, a fixed rate mortgage payment remains unchanged. Homeowners also receive tax breaks that are not available to renters.
Can I really buy a house?
Yes, but there are conditions that must be satisfied first. You need to:
Additional Program Qualification
- Work full time (minimum average of 30 hours per week) for at least one (1) year prior to purchasing unless you are disabled or over 62 years old
- Regularly pay bills on time
- Have the ability to make a down payment of 1% of the purchase price out of personal resources
- Attend and satisfactorily complete the homeownership preparation classes
To qualify for participation in the Housing Choice Voucher Homeownership program, you must:
If you meet the program qualifications, you could qualify for a subsidy that would help pay the mortgage on your home!
- Be a Housing Choice Voucher participant, generally for at least one (1) year
- Meet the minimum annual income requirement of $14,500
- Be in full compliance with your lease (including not owing your landlord any money)
- Not have owned a home in the past three (3) years
- Be willing to utilize your voucher to purchase a home within Frederick County
For more information, please contact Janet Fogle, HACF Homeownership Coordinator, at (301) 662-8173 for an eligibility assessment.