Section 8
Family Self-SufficiencyHomeownership Program GuidelinesHousing Choice Voucher (HCV) Payment StandardsLandlord IncentivesLandlord PortalLandlord Section 8 Participant HandbookParticipantsResourcesSection 8 - FAQsSection 8 Home Ownership ProgramSection 8 Recertification PacketSection 8 Utility Allowances
Homeownership Program Guidelines
The Housing Choice Voucher (HCV) homeownership program allows families that are assisted under the HCV program to use their voucher to buy a home and receive monthly assistance in meeting homeownership expenses.
To participate in Norwalk Housing Authority's HCV Homeownership Program, you MUST:
- Be a Norwalk Housing Authority Housing Choice Voucher (Section 8) holder
- Qualify as a First-Time Home Buyer
- Meet Employment Requirement
- Be employed on a full-time basis (at least 30 hours or more per week) for at least one year
- Note: Most mortgage lenders require two years of full-time employment
- Employment requirement does not apply to elderly and disabled families
- Be employed on a full-time basis (at least 30 hours or more per week) for at least one year
- Meet Income Requirements
- Have a combined gross yearly income of at least 40% of the median income for your family size in the Stamford Norwalk statistical area
- Have savings of $6,000 or more in a non-retirement bank account
- Have a minimum down payment of at 3% of the purchase price (at least 1% from your personal resources)
- Be in good standing with Norwalk Housing Authority
- Attend a HUD-approved First-Time Homebuyer's Certification Program within one year of purchase (Find one here: HUD Housing Counseling)