KCDC HOMEOWNERSHIP PROGRAM QUALIFICATIONS
WHO IS ELIGIBLE?
- Participation for at least one year in Section 8 Housing Choice Voucher Program
- Employed at least one year. Elderly and disabled exempt from employment requirement
- Income of at least $14,500 per year excluding public assistance. Disabled exempt
- First-time homebuyers
- Not in debt with KCDC or any other housing agency
- Never defaulted on a mortgage under the homeownership program
- Cooperative members who have already acquired shares
- Those already holding a lease/purchase agreement – Contact Us
- Minimum income of $14,500 annual earned income (Elderly may include welfare and/or wages)
- Full-time, continuous employment for one year. Full time is defined as at least an average of 2000 hours annually
- Disabled families are eligible at the amount received each month from SSI multiplied by twelve if living alone or paying own
WHAT IS REQUIRED OF FAMILY?
- Down payment is 3% with at least 1% from the family’s own resources
- Required to attend and satisfactorily complete pre-purchase home ownership classes
- Locate a home within 60 days (two 30-day extensions may be granted)
- Attend post-purchase homeownership classes at KCDC’s request
- Units not yet under construction at the time the family contracts to purchase a home
- House under construction
- Single-family house
- Manufactured home situated on participant’s privately-owned property or property that can be leased for 40 years
- Must meet KCDC’s Housing Quality Standards (HQS)
- Independent home inspection
TIME LIMITS (DO NOT APPLY TO ELDERLY OR DISABLED)
- Maximum term:
- 15 years if initial mortgage has a term of 20 years or longer
- 10 years in all other cases
- Time limit applies from initial purchase, regardless of moving to different unit
- If lump-sum down payment grant* is chosen, assistance ends at closing of the loan
* HUD has approved the lump-sum down payment grant but has not announced funds available.
HOUSING CHOICE VOUCHER – DO I QUALIFY?
Eligibility for a housing choice voucher is determined by KCDC based on the total annual gross income and family size. It is limited to US Citizens and specified categories of non-citizens who have eligible immigration status. The family income may not exceed 50% of the median income for county or area in which the family chooses to live. KCDC must provide 75 percent of its vouchers to applicants whose income do not exceed 30 percent of the area median income. Median income levels are published by HUD.
During the application process, KCDC will collect information on family income, assets, and family composition. KCDC will verify this information with other housing local agencies, your employer and bank, and will use the information to determine program eligibility and the amount of the housing assistance payment.
If KCDC determines that your family is eligible, KCDC will put your name on the waiting list. Once your name reaches the top of the waiting list, KCDC will contact you and issue you a housing choice voucher
MODERATE REHABILITATION PROGRAM AND UNITS OFFERED
The Moderate Rehabilitation Program (MRP) is a subsidized housing program with rents based on income. Only the apartments listed below are on the MRP. No other apartments will be added to this list. The apartment buildings offered through the MRP are independently owned, and KCDC provides only rental assistance for the occupants of these units.
KCDC takes applications Monday- Friday between the hours of 7:30 a.m. and 11:00am. in the Section 8 department in the Family Investment Center at 400 Harriet Tubman Street.
Once you complete and KCDC approves your application, we will place your name on a waiting list for the MRP if no units are currently available. When a vacancy occurs, you will receive an offer letter. If you are interested in the apartment offered, you can call the owner to set up an appointment to view the apartment. The owner of the complex chooses the tenant.