Homeownership
FWHS is proud of its history of promoting homeownership. Owning a home gives residents a stake in their community and instills a sense of pride in their neighborhoods.
Our Homeownership program gives families who participate in the Housing Choice Voucher program the chance to pursue the “American Dream.” Eligible participants may purchase a home and use their voucher for mortgage expenses, which includes principal, interest, taxes, homeowners insurance, and a utility allowance. Participants pay 30 percent of their monthly-adjusted income toward mortgage expenses and the housing authority covers the other portion.
To be eligible, applicants must:
- Participate in the Housing Choice Voucher Program for one year or more
- Earn at least $16,000 per year
- Be a first-time home buyer
- Be able to make a minimum down payment of 3% of sales price
- Be able to pay 1% of the minimum down payment with personal funds
- Complete extensive pre-purchase education, training and counseling, including sessions on establishing good credit, budgeting and home financing.
To learn more about our Homeownership program, please contact 817-333-3671.
