Homeownership

The Homeownership Voucher Program is for families who currently have a Section 8 Voucher (Housing Choice Voucher, HCV). As a participant in the Housing Choice Voucher Program, receiving rental assistance, you can use your voucher to buy a home and receive monthly assistance in meeting homeownership expenses. You must meet income and other eligibility requirements, and must be able to obtain a mortgage from a lender. A preference is given for Family Self-Sufficiency participants.

Requirements to Apply:

- Current voucher holder
- First-time homeowner
- Meet the minimum income requirement
- Be employed full-time for a minimum of one year, with exemptions being granted to elderly and disabled participants
- Must attend and satisfactorily complete a HUD certified homeownership counseling program (cost covered by LHA)
- No family member has owned or had ownership interest in their residence for at least three years
- No member of the family has any ownership interest in any residential property
- Must have not defaulted previously on Section 8 Homeownership Assistance
- Per the LHA Section 8 Homeownership Administrative Plan, the purchased property must be located within the City of Lowell, MA

The LHA has been operating a Homeownership Voucher Program since 1998. The program is structured to provide residents with individualized support throughout the homebuying process, from initial interest through post-purchase counseling. Currently, there are 15 participants utilizing their HCV to purchase their first home.

If you are interested in participating in the Homeownership Voucher Program, or just have questions, please email Ken, Leased Housing Program Coordinator.