The homeownership program allows families to use their HCV rental voucher toward a portion of their mortgage payment. The voucher can be applied to principal and interest, mortgage insurance, real estate taxes and home insurance. HCV payments supplement the family's own income. In most cases, a family is required to pay at least 30 percent of their monthly income, and the homeownership assistance payment covers the balance.

The GHA will offer the Homeownership option only to participating families who:

• Are currently enrolled in the Family Self-Sufficiency (FSS) Program and are in compliance with the FSS contract
• Are graduates of GHA’s Family Self-Sufficiency Program
• Have participated in all the requirements of the Homeownership Program
• Have consistently met the obligations of the family
• Contain at least one (1) adult family member who has been fully employed for at least two (2) years, or a combination of schooling working toward a degree or certificate.

• Does not owe money to the GHA
• Has not committed any serious or repeated violations of a GHA-assisted lease within the past three (3) years
• Have demonstrated their ability to pay the rent on time and maintained their present unit in accordance with the “Family Obligations” within the last three years
• Qualify as a first-time homeowner
• Meet the Federal minimum income requirement.