Housing Choice Voucher Homeownership Program

On April 1, 2002 Housing Choice Voucher Program Participants and Public Housing Residents of the Sacramento Housing Authority were invited to complete a pre-eligibility application for the Housing Choice Voucher Homeownership Program. Only pre-eligibility applications from current Housing Choice Voucher Program Participants or Public Housing Residents of the Sacramento Housing Authority will be accepted.

Letter sent to participants and residents

List of translators available to help explain this opportunity

Homeownership Program Fact Sheet

HOMEOWNERSHIP OPPORTUNITY

April 1, 2002

Dear Housing Choice Voucher Program Participant and Public Housing Resident:

The Sacramento Housing and Redevelopment Agency’s Housing Choice Voucher Division is pleased to announce the implementation of the Housing Choice Voucher (formerly Section 8) Homeownership Program.

The attached fact sheet explains this new program and its eligibility requirements. Only clients meeting the minimum requirements as explained on the fact sheet will be invited to an orientation.

If you are interested in your name being placed on the wait list for a Housing Choice Voucher Homeownership Program Orientation, please complete and return the attached Homeownership Pre-Eligibility Form no later than Tuesday, April 30, 2002. You may drop your completed form off or mail it to our office at the address below:

Housing Choice Voucher Homeownership Program

701 12^th Street, Sacramento, California 95814

(NOTE: A MAIL BIN WILL BE AVAILABLE AT THE HCV OFFICE. STAFF WILL NOT BE AVAILABLE TO SEE YOU)

If you meet the minimum eligibility requirements your name will be placed on a wait list according to the date and time your completed form was returned. A letter inviting you to a Homeownership Orientation will be sent to you when your name reaches the top of the wait list.

A list of agencies that provide language translation services is attached.

An informational hotline has been set up to provide information regarding this program. The hotline number is 916-447-2896.

Sincerely,

Housing Choice Voucher Homeownership Coordinator.

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List of translators that may assist you in understanding this homeownership opportunity.

Supplied with thanks from Infoline Sacramento

Sac Chinese Community Service Center
915 T street, Sacramento, CA 95814
(916) 442-2523
Languages: Cambodian; Cantonese; Hmoug; Loas;
Mandarin; Mien; Russian; Ukranian; Vietnamese

La Familia Counseling Center
5523 34^th Street, Sacramento, CA 95820
(916) 452-3601
Languages: Hmong; Spanish

Galt Community Concillo, Inc.
660 Chabolla Avenue, Galt, CA 95632
(209) 745-9174 or Isleton office (209) 745-2156
Languages: Spanish

Boat People SOS
6885 Lindale Drive, Sacramento, CA 95828
(916) 395-2156
Languages: Vietnamese
Southeast Asian Assistance Center
5625 24^th Street, Sacramento, CA 95822
(916) 421-1036
Languages: Croatian; Russian; Ukrainian;
and most Southeast Asian languages

Special Education Department-SCUSD
Capitol Mall, 3^rd Floor, Sacramento, CA 95814
(916) 264-3300
Languages: Spanish

Hmong Woman’s Heritage Association
2251 Florin Road, Suite 104, Sacramento, CA 95822
(916) 394-1405
Languages: Hmong

Asian Resources
5709 Stockton Blvd. Sacramento, CA 95824
(916) 454-1892
Languages: Asian Languages; Spanish

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Housing Choice Voucher (Section 8)

Homeownership Program Fact Sheet

Qualified Sacramento Housing Authority Housing Choice Voucher Program participants and Public Housing Residents are now able to use the Housing Choice Voucher to assist them in paying their own mortgage.

WHAT ARE THE MINIMUM QUALIFICATIONS FOR THIS PROGRAM?

You must be a first time homeowner or have not have an ownership interest in any home within the past 3 years.

You must meet income and employment requirements. Annual earned (not TANF or unemployment) income of $10, 300 is required and you must have been continuously employed for at least 12 months. Elderly or disabled families can have Social Security or SSI income counted toward the earned income requirement and there is no continuous income requirement.

You must pay off all debts you owe to any housing authority. SHRA will not enter into any repayment agreements for amounts owed.

WHAT ARE THE FAMILY PARTICIPATION REQUIREMENTS?

Once the housing authority determines you meet the minimum eligibility requirements, you name will be placed on a wait list.

When your name reaches the top of the wait list you will be invited to attend a Housing Choice Voucher Homeownership Orientation with housing authority. You must attend the orientation.

Successfully complete a homeownership counseling program approved by SHRA and pay a deposit of $200. This can be paid in $50 monthly installments, if you desire. The $200 will be credited to your closing costs if you purchase a house with a Housing Choice Voucher. If you do not purchase a home within 24 months , your deposit will be forfeited-but only if you do not purchase. Cash refunds will not be offered.

Purchase a home within 6 months of the time your homeownership voucher is issued, which will be when you have completed your pre-purchase counseling and have been certified as "mortgage ready." Your down-payment funds must be in place before you will be "mortgage ready."

Submit a sales agreement to SHRA for approval, as well as the proposed mortgage arrangements.

Allow SHRA to inspect the home you choose to buy to assure that it meets Housing Quality Standards. You must then pay for an independent inspection covering major building systems of the unit you choose to buy.

Enter into a written agreement with SHRA to comply with all of its obligations under the Housing Choice Voucher program, including Homeownership Program.

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