Elkhart Housing Authority
1396 Benham Ave. Elkhart Indiana 46516
Participation in the Housing Choice Voucher (HCV) Home Ownership Program is voluntary. Each Home Ownership participant must meet the general requirements for admission to the HCV Program as set forth in EHA's Administrative Plan.
Each HCV family also must be "eligible" to participate in the Home Ownership Program. The additional eligibility requirements for participation in EHA's Home Ownership Program include that the family must:
- Be a first time homeowner or have a member who is a person with disabilities with the exception of elderly and disabled households.
- Meet minimum income requirements without counting income from "Welfare Assistance" sources with the exception of elderly and disabled households.
- Meet the requisite employment criteria.
- Have completed an initial lease term of twelve months in the Housing Choice Voucher Program.
- Must not have defaulted on a mortgage securing debt to purchase a home under the home ownership option.
- Must not have any member who has a present ownership interest in a residence at the commencement of Home Ownership Program.
Additional Eligibility Factors:
- Elderly and Disabled Households
- Elderly and disabled families are exempt from the employment requirements set forth in Section 2.C. above. In the case of the elderly or disabled family, EHA will consider income from all sources, including welfare assistance in evaluating whether the household meets the minimum income required to purchase a home through the HCV Home Ownership Program.
- Preference for Home Ownership Applicants
Applicants for the Home Ownership Program are required to participate in EHA's Family Self Sufficiency (FSS) program in order to participate in the Home Ownership Program. Participants in an Individual Development Account ("IDA") program administered by an agency other than EHA will receive a preference for home ownership assistance in the event applicants for homeownership assistance exceed five percent of EHA's total voucher program in any fiscal year.
Prior Mortgage Defaults:
If a head of household, spouse, or other adult household member who will execute the contract of sale or mortgage and loan documents has previously defaulted on a mortgage obtained through the HCV Home Ownership Program, the family will be ineligible to participate in the Home Ownership Program.
Family Participation Requirements:
Once the family is determined to be eligible to participate in the program, it must comply with the following additional requirements.
- Complete a home ownership counseling program approved by EHA prior to commencement of home ownership assistance.
- Locate the home it proposes to purchase within a specified time.
- Submit a sales agreement containing specific components to EHA for approval.
- Allow the EHA to inspect the proposed home ownership dwelling to assure that the dwelling meets appropriate housing quality standards.
- Obtain an independent inspection covering major building systems.
- Obtain EHA approval of the proposed mortgage (which must comply with generally accepted mortgage underwriting requirements).
- Enter into a written agreement with EHA to comply with all of its obligations under the HCV program.
Termination of HCV Home Ownership Assistance:
Grounds for termination of the Home Ownership Assistance Program include, but are not limited to, failure to comply with Family Obligations under the HCV Program or EHA's Home Ownership Program.
A family's home ownership assistance may be terminated if:
- If the family defaults on the mortgage.
- The family fails to comply with its obligation under the HCV Program or EHA Home Ownership Program.
- If the family fails to attend and complete any ongoing home ownership and housing counseling classes that are required.
- The family fails to comply with the terms of any mortgage incurred to purchase or refinance the home.
- The family fails to provide EHA with written notice of any sale or transfer of an interest in a home.
- The family fails to provide any plan to move out of the home prior to the move.
- The family fails to provide the family's household income and home ownership expenses on an annual basis.
- The family fails to provide any notice of mortgage default received by the family and any other notices that may be required pursuant to EHA's Home Ownership Program.
- The family rents or leases out the home ownership unit.
- Commit any fraud, bribery or any other corrupt criminal act in connection with the program.
- The family engages in drug-related criminal activity or violent criminal activity.
- Except as otherwise provided in this section, the family may not convey or transfer the home to any entity or person other than a member of the assisted family while receivingHome Ownership Assistance.