Housing Authority of Frankfort
Purpose: Designed to promote and support homeownership by a “first-time” homeowner. Housing Choice Voucher payments supplement the family’s own income to facilitate the transition from rental to homeownership.
Size of Program: 10 participants added each year.
Waiting List Activity: Placed by qualification with preference for FSS participants.
Participation Selection Criteria: Must meet the following guidelines:
Associated Counseling and Training: Participant must attend and satisfactorily complete the Housing Authority pre-assistance homeownership and credit counseling program, which includes home maintenance, budget management, credit counseling and home financing.
Financing: The family must qualify for the mortgage loan under a lender’s normal lending criteria taking into account the fact that this is, by definition, a low-income family.
*** New Section 8 participants MUST be on Section 8 for 1 year to qualify.