Section 8 housing vouchers can help renters become homebuyers
HOUSTON - HUD Section 8 housing vouchers help low-income recipients pay the rent, but a little-known program also allows them to be used to buy a home.
It's HUD's Housing Choice Voucher Homeownership Program. It's offered where local Public Housing Agencies participate, which includes the Houston area.
"This is the kitchen. I love the openness," said Marigail Cooper, as she showed us her new home.
A kitchen, three bedrooms, two baths. All her own.
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Cooper says she went from fighting an illegal eviction over repairs in court, to using her Section 8 housing voucher to buy her first home instead.
"I don’t fear being homeless anymore. I have a sense of peace. This is mine. And it’s easier to find a home to buy with a voucher than it is to find a home to rent," she said.
But it wasn't easy. Cooper had to save up for a down payment and build her credit score. Then she called Alyson Griffin.
"December or January is when my process started with her, and fast-forward to March 29, and I’m in my own home," said Cooper.
"A housing choice voucher is just a source of income," said Griffin. "That’s all it is."
Alyson Griffin is a Branch Manager with CrossCrountry Mortgage and a champion for Section 8 homebuyers. She says it can help break generational poverty.
"Most of my families are off the voucher, off government assistance within 4 to 5 years," said Griffin.
She says buyers usually need at least a 640 credit score and a down payment. But she points out that down payment assistance is available.
"You have the City of Houston down payment assistance of up to $50,000," listed Griffin. "And Harris County has a new housing program where they're discounting houses up to 45% on a brand-new house."
She says not all lenders are receptive to Section 8 buyers, but it is protected by law.
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"There's a law called the Equal Credit Opportunity Act (ECOA) that helps protect those families that receive public assistance," she explained.
Cooper still can't believe she's actually living the American Dream.
"I’m still overwhelmed. Sometimes I wake up, and I’m like, Is this real? Is this my house?" she said.
Applicants can find out more by reaching out to their local housing authority, such as the Houston Housing Authority and the Harris County Housing Authority.
Griffin also invites applicants to contact her.