The Eastern Iowa Regional Housing Authority has a HUD-approved Section 8 HCV Homeownership plan. This plan allows existing Section 8 HCV participants to convert their monthly rental assistance toward monthly mortgage assistance.
Do you Qualify?
Applications are now being accepted from qualified homebuyers. To qualify, the applicant must have income at or below 50% of the county median; secure a first mortgage with a lending institution; be considered a first-time homebuyer; and attend a homeownership counseling session prior to closing. Although a standard mortgage is required, EIRHA can assist homebuyers with defraying the cost of the home through local and state grants and, if eligible, homebuyers can utilize the Section 8 HCV Homeownership program.
Click here for Income guidelines.
Click here for Section 8 HCV Homeownership Application.
Upon completion of the form, mail to the attention of the EIRHA Homeownership Coordinator at the address listed below.
Public Housing Homeownership
Through EIRHA’s Homeownership program, first time home buying low-income households are given the opportunity to purchase their public housing units.
Do you Qualify?
The applicant must have an income at or below 80% of the county median. Program participants must be creditworthy and have the financial capacity to handle the anticipated costs of homeownership. Interested participants are required to attend a series of homeownership and financial counseling workshops prior to final program approval. To ensure affordability by eligible program participants, EIRHA’s Homeownership program provides for a combination of down payment assistance and below-market purchase prices. The amount of subsidy will be determined by the individual’s ability to purchase the home and the affordability of the monthly payment. Applicants for the Homeownership program that are currently participating in or have successfully completed the Family Self-Sufficiency program will be given preference.
Click here for Income guidelines
Click here for Public Housing Homeownership Application. Upon completion of the form mail to the attention of the EIRHA Homeownership Coordinator at the address listed below.