Homeownership Program

HCHA’s Homeownership Program provides qualified Housing Choice Voucher (HCV) families with the opportunity to own a home. The process of purchasing a home through this program is similar to the conventional home buying process, and families can purchase a single-family home, townhome, condominium or cooperative anywhere within HCHA’s jurisdiction.

Families may utilize the voucher to pay a portion of their mortgage for up to 15 years – the same way families use a voucher to pay a portion of their rent. Many homeownership families are able to take on the full portion of their mortgage at some point, and do not require any financial assistance from HCHA. These families are able to transition directly into self-sufficiency and no longer need subsidized housing assistance.

In addition to financial assistance toward the mortgage payment, the program provides pre-purchase home buyer education, credit counseling and other services to help families navigate the home-buying process and increase their chances of success. To qualify for this program the family must be a current Housing Choice Voucher participant and must:

  1. Be a first-time homeowner or cooperative member
  2. Have not had ownership in a property for at least the last three years
  3. Earn at least $14,500 annually*
  4. Have a minimum Credit Score of 640
  5. Have been employed continuously on a full-time basis for at least one year
  6. Must be able to qualify for a mortgage loan, based on the lender qualifications
  7. Complete a pre-assistance homeownership and housing counseling program

*Individuals receiving disability income may be exempt from the minimum income requirement and may be eligible for an additional term of mortgage assistance.

Interested HCV participants can click here to learn about HCHA’s Home Ownership Program and Harris County’s Downpayment Assistance Program. Please click the links for Down Payment Assistance Programs https://csd.harriscountytx.gov/pages/dap.aspx  or https://houstontx.gov/housing/hap.html.  HCHA clients who believe they are qualified should speak with their case manager to learn more or send an email to [email protected].