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Section 8 Home Ownership Program

The New York State Homes and Community Renewal (HCR) Section 8 Voucher Home Ownership Program has evolved from a small pilot program in calendar year 2000 to its current status as a national leader in home ownership closings where Section 8 Voucher assistance is available and being used to help families obtain and retain a home of their own.

The current monthly Voucher assistance payment per family ranges from as low as $14 to a high of $2,052 depending on family income and the location of the home. The statewide average monthly voucher assistance payment is currently $558. As of September 1, 2012, HCR has closed on 393 homes statewide (see examples from Regional Map).

Although this program is primarily designed for working families, elderly and disabled persons and families also qualify. Current participants include single and two-parent families, grandparents and single individuals. The minimum income requirements for participation include a stable monthly income such as wages from full-time employment, Social Security or other pension benefits. The minimum annual income eligibility also varies by county.

If you would like more information, please contact HCR's Statewide Section 8 Housing Choice Voucher Program for a list of HCR Local Administrators that manage the Section 8 Home Ownership Program directly, or visit the HUD web site at http://www.hud.gov/offices/pih/programs/hcv/homeownership. To view the HUD PowerPoint presentation, go to http://www.hud.gov/offices/pih/programs/hcv/homeownership/msdhomeownership3-20-03.ppt (MS PowerPoint).

Acknowledgement

HCR gratefully acknowledges its national, state, and local partners, lenders and realtors for their considerable support of and contributions to the success of the Statewide Section 8 Housing Choice Voucher Home Ownership program.

 
Affordable Housing Corporation
www.nyshcr.org/agencies/ahc/
JP Morgan/Chase Bank
www.chase.com/
Bank of America
www.bankofamerica.com/index.jsp
Key Bank
www.key.com/
Bank of New York
www.bnymellon.com/
M & T Bank
www.mandtbank.com
Citibank
http://www.citi.com/domain/home.htm
NBT Bank
www.nbtbank.com
Citizens Bank
www.citizensbank.com
Neighborhood Preservation Coalition of New York State
www.npcnys.org
Community Bank
communitybankna.com
Neighborhood Reinvestment Corporation
www.nw.org
Evergreen Bank/Bank North
www.tdbanknorth.com
North Fork Bank
www.northforkbank.com
Fannie Mae
www.fanniemae.com
Rural Housing Coalition of New York State
www.ruralhousing.org
Federal Deposit Insurance Corp
www.fdic.gov
State of New York Mortgage Agency
www.nyshcr.org/Agencies/SONYMA/
Federal Home Loan Bank
www.fhlbanks.com
Ulster Savings Bank
https://www.ulstersavings.com/home/home
Federal Housing Administration
www.hud.gov
U.S. Dept of Agriculture
www.usda.gov
Freddie Mac
www.freddiemac.com
U.S. Dept of Housing and Urban Development
www.hud.gov
HSBC Bank
www.us.hsbc.com/1/2/
U.S. Dept of Veterans Affairs
www.va.gov
US Dept of Health and Human Resources
(Administration for Children and Families)
http://www.hhs.gov/open/contacts/acf.html

Last updated on 09/11/12