JACKSON, Miss., July 6, 2022 /PRNewswire/ — R.A. Management Group LLC, a Service Disabled Veteran and Native American owned small business has teamed with C & C General Contractors MISS, Inc. to build affordable housing in Jackson MS. See the current Virutal Site Plan
Due to the poverty in its state, the HCV Homeownership Program seems to be the perfect match.
Families that are eligible for Section 8 Housing can now purchase these homes. Our partnership has deemed the first homes to those that are eligible for this housing initiative.
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. While the HCV homeownership regulations contemplate a down payment grant option (where the PHA offers a single down payment assistance grant to the family instead of a monthly home ownership subsidy), funding has not been appropriated for this purpose and this regulatory provision has never been implemented.
The HCV homeownership program is available only to families that have been admitted to the HCV program and it is not offered by every Public Housing Agency (PHA). PHAs have the discretion to determine whether to implement the HCV homeownership program in their jurisdictions. To find a PHA in your area that may administer an HCV homeownership program, you may use the homeownership enrollments report below. For contact information of all PHAs by State, not only PHAs administering an HCV homeownership program, click here.
To participate in the HCV homeownership program, the HCV family must meet specific income and employment requirements (the employment requirement does not apply to elderly and disabled families), be a first-time homeowner as defined in the regulation, attend and satisfactorily complete the pre-assistance homeownership, and housing counseling program required by the PHA, and meet any additional eligibility requirements set by the PHA. "
- HCV Homeownership Regulations (24 CFR Part 982, Subpart M) – HCV homeownership regulations are found in Sections 982.625-982.643.
- Statement of Homeowner Obligations
HCV homeownership enrollments report: this report shows the number of HCV families that have been assisted under the PHA’s HCV homeownership program in the past 5 years, as reported by the PHA in HUD’s IMS/PIC system. The report shows all new and current HCV homeownership families per year.
HCV Homeownership Webinar – In this one-hour webinar, housing industry panelists provide information to assist PHAs in developing successful relationships with lenders, utilizing down payment assistance and other financial resources for home buyers, and addressing the affordability gap to maintain and expand the HCV homeownership program.
Contact: Elder Jeffre Saint James, D.PSc, MBA
Telphone: 877-690-9052 x101
SOURCE R.A. Management Group LLC