ELIGIBILITY
You may be eligible for the Homeownership Program if you meet the following criteria:
- A current HCV Participant
- In good standing with JPHSDD; NO outstanding/unpaid debt or rent
- In compliance with current lease, No history of late payments
- No previous default on a mortgage while assisted under JPHSDD Homeownership Program
- Savings: $3000/$2000 if you receive Disability
- No financial interest in any other property
- No history of late payments
- Considered a First Time Homebuyer
- Employed Full Time for at least two years earning at least $14, 500 annually (Elderly/Disabled exempt from this requirement)
- 640 or greater credit score
STEPS TOWARDS HOMEOWNERSHIP - Complete and submit a Homeownership Request Form
- If criteria is met, complete HOP application and submit required documents
- Referral to a HUD certified Counseling Agency to take Pre-Purchase Counseling Course
- Attend Homeownership briefing with Homeownership Coordinator
- Referral to an Approved Lender with HOP voucher to apply for financing
- Receive Pre- Approval from Lender
- Search for a home
- Submit a sales contract
- Home passes all required inspections
- Prepare for closing
*All potential homebuyers must have a down payment of 3% of the home purchase price with at least 1% coming from the homebuyer’s own resources.
JPHSDD Housing Choice Voucher Homeownership Program
Did you know that you can use your Housing Choice Voucher for Homeownership?
JPHSDD offers a Homeownership Program to permit eligible HCV recipients to purchase a home using their voucher subsidy.
JPHSDD
121 Pailet Drive
Harvey, La 70058
504-342-4475
www.jphsdd.org
Make your dream of Homeownership a REALITY. Homeownership is the cornerstone of a STRONG community.
Contact our Homeownership Team for more information.