Homeownership Threshold Requirements

The requirements to participate in the Homeownership Program are:

  • Participation in the FWHS Housing Choice Voucher Program Tenant-Based Assistance for one year or more
  • Minimum annual income of $16,000.00
  • For an Elderly and Disabled family (a family whose head, spouse or sole member is a person with disabilities), the adult family members who will own the home must have an annual income that is not less than the monthly Federal Supplemental Security Income (SSI) benefit for an individual living alone.

Additional Requirements:

  • A first-time home buyer as defined by HUD
  • A minimum down payment of 3% of sales price
  • 1% of minimum down payment must be from PERSONAL FUNDS of participant
  • Complete homeownership pre-purchase education, training, and counseling