Section 8 Housing Choice Voucher Home Ownership Option

 Frequently Asked Questions

HAB Homeownership Handbook

 

 

<!-- End_Module_1051 --><!-- Start_Module_1052 -->

The Housing Authority of Billings is providing the ability to use Section 8 assistance as a key resource in purchasing a home for low-income persons. Section 8 clients participating in the Families for Self Sufficiency program or who are elderly or disabled families have preferences for selection to this program.

The Housing Authority of Billings’ (HAB) goals are to expand homeownership opportunities for Section 8 participants by assisting them in transitioning from rental assistance to homeownership using Section 8 rental assistance.

Eligibility requirements include:

 

  • Receiving Section 8 rental assistance for one year and in good standing.
  • Meet the HUD definition of a first time homebuyer.
  • Have annual income of 30 hours a week X the minium hourly wage or more unless they are elderly or have a disability status.
  • Have been working for at least one year when they apply for the Section 8 Homeownership program unless they are elderly or have a disability status.
  • They must have completed an HAB approved First Time Home Buyer class.

 

 

This program will have a limited amount of assistance to offer for home ownership.

 

Please contact Shauna K. at 237-1915 for more information.