HCV Homeownership
Housing Opportunities of SW Washington (HOSWWA) gives eligible participants in the Section 8 Housing Choice Voucher (HCV) program the option of purchasing a home with their Section 8 assistance rather than renting.
HCV participants may receive Section 8 Homeownership assistance for up to 15 years on a 20 year or longer mortgage and 10 years for mortgages less than 20 years.
In addition to Section 8 Homeownership Housing Choice Voucher monthly assistance, families may be eligible for other funding opportunities to help with down payment (except for HUD required 1% from own funds) and other closing costs.
HOSWWA Homeownership Program is only available in the following communities in Washington State:
Cowlitz County includes Longview, Washington and unincorporated Cowlitz County, excluding Kelso and Kalama. Cowlitz County is south of Lewis County and North of Clark County.
Pacific County includes Raymond, South Bend, Long Beach, and Ilwaco. Pacific County is west of Lewis County and south of Grays Harbor County.
Lewis County: includes Chehalis, Centralia, Morton, Winlock and Toledo. Lewis County is south of Thurston County and north of Cowlitz County.
Wahkiakum County: includes Cathlamet and Skamokawa. Wahkiakum County is south of Pacific County and west of Cowlitz County.
Eligibility Requirements
Participation in the Section 8 Homeownership Program is voluntary. In addition to being an HCV (Section 8) participant in good standing, each participant must meet the following eligibility requirements:
First-time Homeowner or Family Member
Who is a Person With Disabilities
A "first-time homeowner" means that no member of the household has had an ownership interest in any residence during the three years preceding commencement of home ownership assistance. However, a single parent or displaced homemaker who, while married, owned a home with a spouse (or resided in a home owned by a spouse) is considered a “first-time homeowner”.
Employment History
The homeowner (head of household) must be employed full-time (an average of 30 hours per week) and have been continuously employed for one year prior to execution of the sales agreement., with the exception of elderly and disabled households.
Minimum Income Requirement
The family income must be equal to or over the federal minimum hourly wage ($7.25) multiplied by 2,000 hours ($14,500), without counting income from welfare assistance sources, with the exception of elderly and disabled households.
Section 8 Participant in Good Standing
Section 8 families must have participated in the Section 8 Housing Choice Voucher program for one year and not owe money to HOSWWA or any other housing authority.
Down Payment
At a minimum, the participant will be required to provide three percent of the home purchase price as a down payment and at least one percent of the purchase price must come from the family’s personal resources, (i.e. savings, IDA account or S8A Savings).
Program Advantages
When you become a participant in the Section 8 Homeownership Program, you can expect:
- Increased buying power to purchase a home
- Comprehensive homeownership counseling that helps you with budgeting, financing, and buying a home from start to finish
- Referrals to pre-approved lenders and realtors
- Continuing homeowner support after purchase to answer questions and offer referrals to community assistance programs for success.
For more information, contact:
Lori Courtney
360.225.8122 ext. 3102
lori.courtney@hoswwa.org