Housing Choice Voucher (HCV)

Homeownership Vouchers could be your key to owning a home!

These vouchers are part of the Housing Choice Voucher Program.  If you are eligible, the Housing Choice Voucher to Homeownership Program lets you use your monthly assistance toward a home loan payment instead of rent.  You must currently be participating in a Housing Choice Voucher Program with Kentucky Housing or your community’s housing assistance office.

Benefits of Homeownership

• No more monthly rent payments down the drain.
• Your monthly home loan payments build dollar value for you.
• You gain tax breaks.
• You have a secure place to live.

Who Can Apply?

You must be a current participant in a Housing Choice Voucher Program AND you must agree to attend and complete Kentucky Housing’s homeownership counseling to ensure your credit standing is suitable to apply for a home loan.

Other Eligibility Guidelines:

• You must currently be participating in a Housing Choice Voucher Program with Kentucky Housing or your community’s housing assistance office.
• You must not owe any money to Kentucky Housing or any other housing assistance office.
• You must have had no more than two termination notices in the last two years.
• You must have paid your part of the rent on time for 12 months.
• Your household must have at least one family member that has been employed continuously for one year, earning at least minimum wage for 30 hours or more per week; OR your household has an elderly or disabled member with a monthly disability income of at least $733.
• You must not (nor any member of your family) have owned or had an ownership interest in a home for three years. Exceptions include:
• A single parent or displaced homemaker who, while married, owned a home with his/her spouse or resided in a home owned by his/her spouse.
• A family that may have previously owned a home and includes a member with disabilities and for whom homeownership assistance would provide a reasonable accommodation.

Can I choose any home or are there special requirements?

• The home you choose must pass a housing quality standards inspection and a general home inspection before approval for purchase.
• The home must be one you can afford as determined beforehand.
• The location of your home must be in the same area as the agency that is giving you the assistance.

How do I apply?

If the housing authority that you currently work with participates in this program, contact that office directly. If you receive your voucher through Kentucky Housing and need more information, please contact us.