Affordable Homeownership at
Sarasota Housing Authority

During this fiscal year, which ends March 31, 2009, SHA anticipates that it will offer for the first time, a Section 8 Housing Choice Voucher Homeownership Program for our families.

 

The Sarasota Housing Authority’s homeownership option is designed to promote and support homeownership by a first-time homeowner.

Section 8 voucher assistance payments help the family pay the costs of homeownership, and may provide additional assurance for a lender, so that the family can finance the purchase of the home.

 

In order to qualify, the family must:

• Have been assisted by the Section 8 rental assistance program, lived in public housing, or resided in another SHA owned or managed property for at least 12 months;
• Be employed full-time for the past year and have a total family incomethat is not less than the Federal minimum hourly wage multiplied by 2,000 hours;
• In the case of disabled families, the minimum income shall be equal to the monthly SSI for an individual living alone (or paying his or her share of food and housing costs) multiplied by twelve;
• Attend and satisfactorily complete a pre-assistance homeownership and housing counseling program required by the SHA.

For more details on the SHA Section 8 Homeownership Program, please review Section 23 of the SHA Section 8 Administrative Plan (pdf) or contact SHA's Section 8 HCV Office at (941) 361-6210 ext. 232.