Lake Metropolitan Housing Authority HCV Homeownership Program

Administered by: Lake Metropolitan Housing Authority · County · Grant

Funding status: Active

How much assistance

Monthly mortgage payment subsidy for Housing Choice Voucher participants (Grant)

Ongoing monthly assistance while meeting program requirements.

Eligibility

  • Income limits: Must be current HCV participant for at least 1 year in good standing
  • First-time buyer required: No
  • Geographic restrictions: Must purchase within Lake County.
  • Homebuyer education required: Yes

How to Apply for Lake Metropolitan Housing Authority HCV Homeownership Program

Step 1: You must be a current Housing Choice Voucher participant with Lake Metropolitan Housing Authority for at least 1 year in good standing.

Step 2: Contact the homeownership coordinator at (440) 354-3347 ext. 26.

Step 3: Complete required Financial Fitness and Homebuyer Education courses.

Step 4: Save for a minimum 3% down payment (at least 1% from your own resources).

Step 5: Find a home within Lake County that passes Housing Standards inspection.

Visit program website

Notes

Requires minimum 3% down payment (at least 1% from own resources, 2% from other sources). Unit must pass Housing Standards inspection. Cannot have defaulted on a prior HUD homeownership program.

Cities Where This Program Is Available