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Home Ownership

What is the Home Ownership Program?

On September 12, 2000, HUD published the final rule for the Homeownership Voucher Program. Since then, there have been widespread expressions of interest in the program from would-be participants and Public Housing Agencies (PHAs). Prospective participants are eager to use voucher assistance to purchase a home of their own. PHAs are enthusiastic about the possibility of assisting families in purchasing homes, but need guidance on designing programs that allow participating families to have the greatest chance for success. Under the Homeownership Voucher Program, the family must qualify more than once. Initially, they must meet the PHA's eligibility criteria, be selected for participation by the PHA, and must meet HUD's eligibility requirements as stated in 24 CFR § 982.627.

Determining how families will be selected to participate in the Homeownership Voucher Program, and whether to establish additional eligibility criteria, are the initial responsibilities of the PHA. Later, participants will have to qualify under somewhat different criteria with the mortgage lender for a loan. As stated in 24 CFR § 982.630, families wishing to participate in the Homeownership Voucher Program must complete a homeownership counseling program before they are eligible to purchase a home. Although hud regulations suggest a few areas that should be covered in the counseling program (e.g., home maintenance, money management, negotiating a home purchase, obtaining a mortgage loan), the topics to be covered and the duration of the counseling program are left to the discretion of the PHA. The counseling may be provided by the PHA or by another agency (such as a hud-approved housing counseling agency) working with or approved by the PHA. It is also left to the PHA to decide whether or not to require the family to attend post-purchase counseling.

The San Angelo Housing Authority has 10 Home Ownership Vouchers.

Program Requirements:

    In order to qualify you must:

  • Have a Credit Score of 700 or better 
  • Be a participant in good standing on the HCV program and have fulfilled at least a one year lease
  • Be currently employed and have steady employment for the past 12 months consecutively---The employment must be at least 30 hours per week
  • Have an annual income of at least $14,500 (excluding welfare assistance)
  • Be a first time homebuyer by HUD's definition (not own a home or have owned a home in the past three years)
  • If above guidelines are met, the eligible participant will be required to participate in homeownership counseling to learn more about home buying and financing.

Click on the links below to view/print:

Home Ownership Flyer

Home Ownership Admin Plan

Home Ownership Application


For additional information please contact:
Deborah Ruiz
HCV Supervisor
Phone: 325.486.3375
Email: [email protected]