HCV Housing Opportunities

“Formally Section 8”

RRHA offers homeownership opportunities through the HUD-approved HCV Homeownership Program. This program allows families who are currently receiving housing assistance under the HCV program to convert that assistance into a one-time down payment or monthly payments to assist with a mortgage that will allow them to purchase a home.

HCV Housing Program

The HCV Homeownership Program allows a family to purchase a home for approximately the same amount of rent that is currently being paid to a landlord. Once a mortgage company approves a borrower’s application, the Housing Choice Voucher payment is applied to the mortgage payment rather than a rent payment.

HCV Housing Program Qualifications

  • Be a current holder of a Housing Choice Voucher
  • Have an income of $18,000.00
  • Have steady full-time employment for no less than 12 months
  • Be a first-time homebuyer
  • Be in compliance with the current lease (not owing landlord any money, no tenant violations)
  • Have 1% down payment saved and in the bank
  • Not have high existing debt which would prevent obtaining a mortgage
  • Elderly and disabled have separate requirements
Young woman writing on a pad of paper

HCV Housing Program Qualifications

  • Be a current holder of a Housing Choice Voucher
  • Have an income of $18,000.00
  • Have steady full-time employment for no less than 12 months
  • Be a first-time homebuyer
  • Be in compliance with the current lease (not owing landlord any money, no tenant violations)
  • Have 1% down payment saved and in the bank
  • Not have high existing debt which would prevent obtaining a mortgage
  • Elderly and disabled have separate requirements
Young woman writing on a pad of paper

If you are interested in applying for RRHA’s HCV Homeownership Program and think you meet the income requirements, complete the downloadable application and email it to hcvhomeownership@rkehousing.org or mail it to:

Homeownership
Roanoke Redevelopment and Housing Authority
Attn: HCV Homeownership Program
2624 Salem Turnpike, NW
Roanoke VA 24017

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