Housing Choice Voucher (HCV) Program
The High Point Housing Authority (HPHA) administers 1,484 Housing Choice Vouchers which help very-low income households afford private market rental housing that is decent, safe and sanitary. HPHA administers programs targeting special populations in addition to providing services that will enhance quality of life and assist in achieving economic independence and self-sufficiency such as:
- Family Unification Program – Program providing housing to individuals who have lost or face eminent loss of their children due to lack of proper housing and youth ageing out of foster care
- Family Self-Sufficiency (FSS) Program - Program that help families achieve self-sufficiency over a five or seven-year period by linking with a variety of services that will enable them to achieve the goals they have set for themselves
- Homeownership Program – gives a current voucher holder who is a first-time homeowner the ability to purchase a home and receive a monthly mortgage subsidy
HPHA’s homeownership option is designed to promote and support homeownership by a ‘first-time’ homeowner. If you are a currently a participant in HPHA’s Housing Choice Voucher Program, you can continue to use your voucher to subsidize your rent payments or you can use your voucher to make owning a home affordable. The homeownership mortgage subsidy program works like the rental subsidy program with one key difference. The mortgage subsidy program provides an opportunity for you to achieve the American Dream of Homeownership.
- Eligibility Requirements
- Value of Homeownership
Eligibility Requirements – Homeownership is available to individuals who have a voucher and have been participating in HPHA’s Housing Choice Voucher (HCV) Program for at least one year. All households, including elderly and disabled heads-of-household are eligible to purchase a home. Other eligibility requirements are listed below. However, there are some exceptions to these requirements for households with disabled family members.
- You must be a first time homebuyer.
- You must have gross annual income of at least $17,000 (welfare assistance excluded) except for an elderly or disabled family, where the minimum income will be equal to the monthly SSI benefit for a single individual multiplied by twelve.
- You must be continuously employed full-time for at least 2 years
- You must not owe any debt to HPHA or any other Housing Authority or federally assisted housing program.
- You must have at least $1,000.00 of the down payment from your own funds
- You must attend a HUD approved Homeownership Counseling Program
- You must attend Credit and Budget Counseling Programs
Value of Homeownership – Purchasing a home may be the largest single investment you will ever make. It is a way to build wealth and attain economic self-sufficiency. Through homeownership, you can ensure that your family will always have a decent, safe and sanitary place to call home. When selecting a home, location is an important factor. Choose a home that is located in a neighborhood where your home will have high value growth, and where you will have access to good paying jobs and high performing schools.
For more information, contact the Homeownership Coordinator at (336) 878-2300.