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
Income/employment requirements
  • 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 2,000 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 homeownership classes
  • Locate a home within 60 days (two 30-day extensions may be granted)
  • Attend post-purchase homeownership classes at KCDC’s request
Eligible units
  • Units not yet under construction at the time the family contracts to purchase a home
  • House under construction
  • Single-family house
  • Condominium
  • Cooperative
  • 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.