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What is Section 8 Homeownership Option?
The San Joaquin Housing Authority has allocated 5% of their Housing Choice Voucher’s to participate in HUD’s Homeownership Option.
This plan allows eligible families to purchase a home and have part of their mortgage paid through this new form of voucher assistance.
Who is eligible?
Determination of eligibility is based on family
income, composition and assets just like the
regular Housing Choice Voucher. In addition you
must:
- Be currently receiving Section 8 assistance.
- Be a first time homebuyer (except elderly or disabled households).
- Select or reside in a unit that is eligible to receive assistance.
- Participate in a pre-homeownershipcounseling program.
- Meet the employment and income requirements
- Not have defaulted on a mortgage securing debt to purchase a home under the Homeownership Option.
How can I apply?
Please contact the Housing Authority at 209-460-5000 for information on how to apply.
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