NAR: Government Affairs: Section 8 - Homeownership Program
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Effective October 12, 2000 HUD began offering a program permitting tenant-based Section 8 holders to use their voucher payment towards the purchase of a home. Local public housing agencies (PHA’s) have the option of offering the homeownership program to their residents. HUD has set several specific criteria for eligibility of residents, but PHAs may also set their own conditions. PHAs also have the choice to make the program available for any qualified participant, or to restrict the program to certain families. They may also limit the number of families they include in the program. PHAs interested in offering the program must be able to demonstrate that they have the capacity to operate a successful homeownership program. Because the program creates a new audience of homebuyers, REALTOR® interest has been high.
For a summary of the program, click on the Portable Document Format (PDF) attachments below. For a full copy of the HUD final rule, click on the Adobe Acrobat file below.
HUD Homeownership Program Summary (111K PDF file)
Final Rule (4,700K PDF file)
A guide for REALTORS®
NAR is pleased to provide you with its updated Section 8 Homeownership Guide for REALTORS®, established to familiarize REALTORS® with this new homeownership initiative. The program was created by HUD last year to allow voucher recipients to use their housing assistance towards the purchase of a home. Many REALTORS® have expressed interest in this program and wanted to know how they could participate in bringing homeownership to many deserving families. This Guide is designed to answer some common questions regarding the program and provide useful guidance and information to facilitate their understanding of its operation and functions.
The book is lengthy, so we have divided it up by pages. If you have any questions about the program contact Megan Booth at mbooth@realtors.org.
Cover Page and Table of Contents (2,047K PDF file)
Details of the Program (56K PDF file)
Final Rule (4,700K PDF file)
HUD FAQs (45K PDF file)
Forms (96K PDF file)
PHA Requirements (107K PDF file)
Partners and Financing (2,682K PDF file)
Success Stories (1,163K PDF file)
Note: To read a PDF file you must have Adobe Acrobat Reader installed on your computer - it's available free from Adobe Systems.
