Housing Choice Voucher Homeownership Program
The Jonesboro Urban Renewal & Housing Authority (JURHA) is proud to announce the SUCCESS of the Housing Choice Voucher Homeownership Program. We currently have 18 Section 8 families who are living in their own homes which they have purchased as part of this program. Individuals or families currently receiving rental assistance may be eligible to purchase their own home. Instead of paying Section 8 rental assistance to a landlord, JURHA will make a Section 8 mortgage assistance payment to a lender AND instead of the family paying rent to their landlord, they will make a PAYMENT on their own home.
Doesn't this sound great?!?!! You could be a proud homeowner!
How does the program work and how can I be eligible?To be eligible for this program, the individual or family must:
- Be a current voucher holder for the Housing Choice Voucher Program through JURHA for at least one year
- Meet the HUD definition of "first-time buyer"
- Meet the Federal minimum annual income requirements
- Attend pre-purchase homeowner counseling classes before entering into a sales contract
- Family has not caused violations of HUD housing quality standards within the last 12 months
- Family does not owe any money to JURHA
- Family has not committed any serious or repeated violations of a PHA assisted lease within the last 12 months
- Family must enter into a "Statement of Homeowner Obligations"