Homeownership

Housing Choice Voucher Homeownership Option

 

Families that have been determined eligible for voucher assistance have the option to purchase a home rather than renting.

  • Families may choose a house for purchase anywhere in Broward County
  • Monthly assistance with homeownership expenses for up to 15 years for non-disabled Section 8 voucher holders and up to 30 years for disabled Section 8 voucher holders
  • Property will be inspected by the HACFL and your own homeowner inspector
  • Possible grant available for down payment assistance from other agencies
  • Must attend homeownership counseling workshops

 

MINUMUM REQUIREMENT INCLUDE BUT ARE NOT LIMITED TO:

  • Currently participating in the Housing Choice Voucher Program in the City of Fort Lauderdale
  • Must qualify for conventional, FHA or VA mortgage loan.
  • Must be a first-time Homebuyer.
  • Total income must be at least $15,000 per year. Disabled and/or elderly are exempt from this requirement.
  • Must have been employed full-time continuously for at least one year.
  • Must put minimum down payment of 3% of the purchase price and 1% must be the purchaser’s own funds
  • Family Self Sufficiency participants will be given a preference.
  • Must be in good standing with the Fort Lauderdale Housing Authority.

 

In order to qualify for the Homeownership Program you must be credit ready (Score of 660 or Better) and mortgage ready (must be able to obtain a pre-qualification/mortgage loan from a lender). If you are interested in participating in this program, please contact the FSS/Homeownership Department at (954) 556-4100 Ext. 1120 or 1117.

 

If you are interested in participating in this program, please contact the FSS/Homeownership Department at (954) 556-4100 Ext. 1120 or 1125.