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.
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:
Sarasota Property must be in Sarasota, FL.
Yes, based on Compliance Income (including household income) Income limits from HUD 2022 50% AMI guidelines
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:
Eligible Property Types:
Single Family Detached Condo Townhome/PUD
Income By Household Size:
Determined by first mortgage product or lender.
Please Create A Free Account To View Down Payment Assistance Details