Section 8 HOP - Housing Opportunities of Southwest Washington

1. Participate in the Section 8 Advantage (formerly FSS) Program.  Homeowners are required to participate in HOSWWA’s Section 8 Advantage (S8A) program or be former graduates of the program. 
2. First-time Homeowner.  A "first-time homeowner" means that no member of the household has had an ownership interest in any residence during the three years preceding commencement of home ownership assistance. However, a single parent or displaced homemaker who, while married, owned a home with a spouse (or resided in a home owned by a spouse) is considered a “first-time homeowner”. 
3. Employment History. The home owner (head of household) must be employed full-time (an average of 30 hours per week) and have been so continuously employed for one year prior to execution of the sales agreement. 
4. Minimum Income Requirement. The family Income must be equal to or over the Federal minimum hourly wage ($7.25) multiplied by 2000 hours. ($14,500). 
5. Section 8 Participant in Good Standing. Section 8 families must have participated in the Section 8 Housing Choice Voucher program for one year and not owe money to HOSWWA or any other housing authority.  
6. Down Payment. At a minimum, the participant will be required to provide three percent of the home purchase price as a down payment and at least one percent of the purchase price must come from the family’s personal resources, (i.e. savings, IDA account or S8A Savings)..

Program Advantages.  When you become a participant in the Section 8 Homeownership Program, you can expect:

• Increased buying power to purchase a home.
  

• Continued participation in the S8A Program.
  

• Continue growing your S8A savings account (for S8A participants) that can be accessed for down payments, home repairs and improvements.
  

• Comprehensive homeownership counseling and assistance that helps you with budgeting, financing, and buying a home from start to finish.
  

• Referrals to pre-approved Lenders and Realtors.