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Sarasota Housing Authority (SHA) Housing Choice Voucher (HCV) Homeownership Program

Special Alert

Program detail limited due to lack of online resources and/or contact with program provider. Please note: Program limited to eligible Housing Choice Voucher participants.

Maximum Purchase Price

Inquire for Details

Contact Info:

http://sarasotahousing.org/public.aspx 941-361-6210 ext 261

Limitations

Property must be a single family residence. The family must have been assisted by the Section 8 rental assistance program, lived in public housing, or resided in another SHA owned or managed property for at least 12 months. Must be employed full-time for the past year and have a total family incomethat is not less than the Federal minimum hourly wage multiplied by 2,000 hours. In the case of disabled families, the minimum income shall be equal to the monthly SSI for an individual living alone (or paying his or her share of food and housing costs) multiplied by twelve.

Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA, USDA / RD

Homeowners Education Class:

Required

Is Forgivable?

Location:

Sarasota Property must be in Sarasota, FL.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 50% AMI guidelines

Maximum Assistance

The Housing Authority will provide assistance payments based on the payment standard for the family’s voucher size allocation, Families will utilize the voucher assistance to pay a portion of their mortgage for up to 15 years or as long as they qualify – the same way families use a voucher to pay a portion of their rent

Education Requirements Info:

http://sarasotahousing.org/services.aspx

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

None

Qualifying Ratios:

Determined by first mortgage product or lender.
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