The Housing Commission office will be CLOSED on Wednesday, June 19 , 2024 in observance of Juneteenth.

July 21, 2023 – see a video of our July 2023 lottery drawing here.

February 21, 2023see a video of our February 2023 lottery drawing here.

Overview

The Housing Choice Voucher Homeownership Program (HCVHP) uses a voucher subsidy, that once helped families pay rent to their landlord, to be used to help first-time homeowners pay their mortgage.

The Homeownership Program is offered to eligible Howard County Housing Commission voucher holders. The program allows participants to have their housing subsidy applied towards a monthly mortgage payment, after a home is purchased. Residents who wish to join the program must meet certain eligibility requirements and when deemed eligible they are required to attend a homeownership orientation and education course in order to prepare for home ownership. Participants select homes for purchase and secure their own mortgage financing through a lender.

Similarities between renting with HCV and Homeownership

  • Residents contribute 30% of their income towards either their monthly rent or a mortgage.
  • HCHC uses the same payment standard as used in calculating a housing assistance payment for renting an apartment.

Eligibility Requirements

  • Must be a current participant of the Housing Choice Voucher Program in good standing.
  • Must attend the Voucher Homeownership Information session
  • Must have a minimum annual income of $40,000. * Working full-time (at least 30 hours per week or more) and continuous employment for at least one year.
  • Must have at least $2,500 in savings (but more may be required).
  • Must be a first-time homebuyer not having owned a home during the last 3 years.
  • Must have a minimum credit score of 620.

* In the case of an elderly or disabled family, the Howard County Housing Commission will consider income from all sources in evaluating whether the household meets the minimum income requirement.

**Current Family Self-Sufficiency (FSS) participants or graduates have priority in the Homeownership Program.

For more information contact Barbara Dowridge-Williams (FSS Coordinator) at bwilliams@HouseHoward.org or 443-518-7820.