The goal of the HCV Homeownership Program is to expand homeownership opportunities for families who are current HCV program recipients. Families must meet HUD and MHA program requirements for program participation. The objective of the HCV Homeownership Program is to assist first-time homebuyer’s with monthly mortgage subsidy. This program allows the family to become invested in a wealth building opportunity.
- A current Montgomery Housing Authority Housing Choice Voucher Program participant.
- Must be employed on a full-time basis (defined to mean not less than an average of 30 hours per week), and continuously employed for at least one year.
- The annual income of at least one household member must be equal to or greater than $15,080
- The elderly (defined as 62 years of age or older) and disabled Head of Household participants are exempt from employment requirements.
- Head of Household Elderly /disabled annual income must be equal to the minimum monthly Federal Social Security or Supplemental Security Income of $8,529.
- Mortgage assistance up to fifteen (15) years if the mortgage is 20 years or more; and, 10 years if the mortgage is 15 years or less; except for the elderly and disabled.
- Elderly and disabled head of households assisted for a maximum of 30 years or the duration of the mortgage.
For more information on the Housing Choice Voucher Homeownership Program please contact the Montgomery Housing Authority at 334-206-7200 or email at email@example.com.