Homeownership

The brand new Homeownership system lets families to utilize its Property Selection Voucher to invest in a home. The fresh new homeownership option is familiar with assist children remaining in a house ordered and you can owned by a minumum of one members of the family. A family group aided under this option need to be a preexisting participant from the Homes Choices Voucher system getting atleast one year.

The household need to have a terrible yearly money comparable to the fresh new Government minimum-wage multiplied because of the 2000, according to research by the earnings from mature members of the family who can very own our home. Spartanburg Casing ilies. not, children that suits the latest government lowest income requisite (but not the Spartanburg Housing’s requirement) would be considered to meet the lowest money requisite whether it can also be reveal that this has been pre-accredited or pre-acknowledged to possess financing that’s sufficient to buy an eligible equipment.

To own disabled family, minimal earnings criteria is equivalent to the current SSI month-to-month payment for an individual way of living by yourself, multiplied because of the a dozen. Continue reading →