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HCV Homeownership Program Requirements

The Housing Choice Voucher (HCV) Homeownership Program allows eligible HCV (more commonly known as Section 8) holders to use their voucher to help buy a home. Instead of paying rent, participants receive monthly assistance to cover homeownership costs, such as mortgage payments, property taxes, and insurance.

 

🌟 Who Can Participate?

To qualify for homeownership assistance through Norwalk Housing Authority, applicants MUST:

  • Be admitted to the Housing Choice Voucher Program

  • Qualify as a first-time homeowner

  • Have a household income of at least 40% of the Stamford/Norwalk Area Median Income

  • Work full-time (30+ hours/week) and have done so for at least 1 year (unless elderly or disabled)

  • Complete a HUD-certified First-Time Homebuyer Certification Program

  • Be in good standing with Norwalk Housing Authority
    (not in first year of HAP contract, no unpaid rent or lease issues)

  • Have $6,000 or more in savings (in a non-retirement bank account)

  • Prequalify for a home loan and find a home that meets voucher eligibility

  • Provide a 3% down payment on the home purchase price
    (at least 1% must come from your personal funds)

  • Meet any additional eligibility requirements as determined by the program

 

🏠 Why Choose Homeownership?

  • Build equity and long-term wealth

  • Achieve greater housing stability

 

Ready to turn your voucher into homeownership?
Find out if you're eligible for the HCV Homeownership Program and start your journey to owning a home today!

Email sreid@norwalkha.org for more information.

 

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