Welcome To The Section 8 Homeownership Program

It’s often called the “American Dream”. The dream is often of owning a home or condominium, close to shopping and work. Although homeownership is at a record high, the dream of purchasing one’s own home isn’t one that most people with low-income think about for very long. It’s often an impossible dream, but the dream has come true for some and we want to make it a reality for others.

The ability to use Section 8 assistance should prove to be a key resource in purchasing a home for low-income persons. Buying one’s own home is never easy. Financial and credit checks have to be made; homeownership counseling classes taken, and paperwork that never seems to end must be completed. There are Realtors, lenders, inspectors, appraisers and a myriad of others who actively participate in the process

The Springfield Housing Authority will assist you in addressing these issues. Buying a home is obviously not for fainthearted or impatient persons. Hopefully this brochure will serve as an effective road for those who want to take the path to homeownership.

The Springfield Housing Authority will assist ten (10) families for a period not exceeding fifteen (15) years by making subsidy payments towards your mortgage.

How Do I Qualify?

Families are eligible for the program with the following priorities:

  1. Section 8 families participating in the Family Self-Sufficiency Program
  2. Section 8 families on the program for one (1) year or longer and in good standing with their landlord and the Springfield Housing Authority.
  3. Section 8 families participating in the program for one (1) year or less and in good standing with their landlord and the Springfield Housing Authority or are currently eligible for a Housing Choice Voucher.
  4. All families must have a minimum annual income of $14,500 from wages unless they are elderly or disabled.
  5. All families must be employed FULL-TIME and have been continuously employed for twelve (12) consecutive months unless they are elderly or disabled
  6. All families must be eligible for a conventional mortgage through a qualified lender
  7. The family must be a First Time Homebuyer. (A person has not owned a home in the last three (3) years.)
  8. Complete pre- and post-mortgage counseling offered through the SHA to include credit repair, how to purchase a home, how to apply for a loan, home maintenance, etc.

For Qualified Families With A Housing Choice Voucher What Do I Need To Do?

If you already participate in the Section 8 Housing Choice Voucher program, then you may qualify for the Section 8 Homeownership program. Here are the requirements for qualification:

  1. Choose to own rather than rent
  2. Enroll in the FSS Program
  3. Complete the Homebuyer Education Program
  4. Pre-Qualify for a mortgage
  5. Execute a residential purchase agreement on a home of your choice
  6. Pass a U.S. Department of Housing and Urban Development Housing Quality Standards Inspection, conducted by a SHA Inspector.
  7. Pass conventional home inspection
  8. Obtain mortgage financing
  9. Close on property sale
  10. Participate in post-purchase Counseling
When you are applying for a mortgage the lender will require you to bring documents with you. View our Homebuyer’s Checklist here for more information on what you need to take to your appointment. The requirements of each lender will vary, but this is a resource to get you started!
How Do I Apply?

Section 8 Homeownership Applications may be printed online here. You must come to our office to file your application. Applications are accepted every Tuesday from 8:30 to 11:30 am or 1 to 4 pm.

Please bring the following original documents with you:

  • Social Security cards for everyone in your household
  • State issued picture identification for everyone 18 or older in your household
  • Certified birth certificates for everyone in your household
  • Any income information such as check stubs or social security income that you or anyone in your household may receive

Anyone over the age of 18 in your household is required to sign off on paperwork at the time you apply.

What Are The Financing Options?

Section 8 Homeownership offers two (2) financing options:

  1. A first and a second mortgage to minimize the homebuyers housing cost to an amount that is affordable at the borrower’s current income level and to ensure that the home buyers can afford to pay the mortgage once the 15 years subsidy period has expired.
  2. A traditional 30 year mortgage whether it be conventional or FHA
Other Key Features Of The Program

There are many features of the program, including:

  1. Minimum down payment of 3% or $1,000.00 from personal savings, balance from FSS accounts, gifts, or other sources.
  2. Mortgage subsidy for up to 15 years or unlimited if program participant is disabled or a senior.
  3. Seller financing prohibited, except by an approved non-profit organization.
Want More Information?

Section 8 Homeownership Brochure

Client Testimony

"I would love to thank Springfield Housing Authority Homeownership Program for helping me achieve my goal of becoming a homeowner! My case worker Ron Z was such a blessing to my homeowner journey! After receiving personal credit counseling and attending the home ownership workshop both through Ron, I purchased my home June 7th 2023 along with a $15,000 grant from Springfield Housing Authority. If your looking to become a homeowner Springfield Housing Authority Homeownership Program will be a great program for you to join!"