If you are a Section 8 tenant and are interested in owning a home, or if you currently own a home and have gotten behind in your mortgage payments and are at risk of losing your home, the Stark Metropolitan Housing Authority (SMHA) has a service that can help!

Established in 2001, the SMHA Section 8 Homeownership Program is a HUD certified counseling service designed to assist Housing Authority residents purchase a home of their own or non-public housing residents protect their most valuable asset, their home.

The Housing Authority offers homeownership opportunities and SMHA residents through its Section 8 Voucher Choice and Section 8 Tenant Based Lease Purchase Programs and post purchase counseling to homeowners in Stark County that meet program guidelines.

• Is there a minimum income to participate in the program?

  Yes, in order to be eligible for the program you must have income of at least $10,300 per year. Elderly and disabled individuals must have an income of at least $6,540 per year.

• Can I participate in the Homeownership Program if I have owned a home before?

  In order to be eligible for participation, you cannot have owned a home in the past 3 years.

• Do I have to have good credit in order to participate in the program?

  In order to purchase a home, having and maintaining good credit is essential, however it is not a requirement for participation in the program. You will be required to successfully complete pre-purchase counseling and prepare a personal action plan for credit repair in order to become mortgage ready.

• What happens once I have finished counseling and my personal plan for repairing my credit?

  Once you have been determined to be mortgage ready, the next step will be to seek financing with a local mortgage lender. After you have been pre-approved by a lender you can then start to shop for your new home.

• Will I need to use the services of a Realtor in order to find a home?

  You can use a Realtor or you can shop for a home on your own. If you choose not to use a Realtor, SMHA can help you find a home in your price range that meets your family's needs. Homes may be purchased anywhere in Stark County, Ohio.

• Am I limited in my choice of the home I would like to buy?

  Providing that it meets your affordability requirements, your choice is limited only by the condition of the home. The home you look to purchase may be an existing home or newly constructed.

• Once I have found a home in my price range, what happens next?

  After you have found a home in your price range, had it inspected by an independent home inspector and SMHA (HQS) and have met all financing requirements, you can close on your new home.

• Will I be required to come up with down payment and closing costs?

  Yes, you will be required to come up with a payment equal to a minimum of 1% of the purchase price of the home you would like to buy. You may however, be eligible for assistance with down payment and closing costs from a local non-profit or special program available through your lender.

• I live in Section 8 housing, how can I afford to make a mortgage payment?

  If you meet the preliminary program guideline, you could qualify for a subsidy similar to your Section 8 subsidy that will help you pay the mortgage on your new home.

• How do I get more information on the Section 8 Homeownership Program?

  If you think you meet the program qualifications and are ready to make the move to owning a home of your own, call Denise Wareham, Homeownership Coordinator at (330) 454-8051, extension 348.