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FWHA Homeownership
/ FSS Office
218 Burnett St
Fort Worth, TX 76102
(817) 336-2419 X 2406 or 2407
FAX (817) 878-2476
The Fort Worth Housing
Authority (FWHA) has established a Homeownership program component to
its Housing Choice Voucher Program. Eligible participants in the
Tenant based rental assistance program may have an opportunity to be
homeowners and use their tenant-based voucher for mortgage expenses.
Mortgage expenses include principal, interest, taxes, homeowners
insurance and a utility allowance. FWHA has entered into an agreement
with the City of Fort Worth Housing Department to administer the
necessary homeownership training and counseling which includes
sessions on owning a home, credit repair, budgeting, home financing,
etc.
How to Apply
Send a short letter
expressing your interest in participating in the homeownership program
to
FWHA Homeownership
Program, P.O. Box 430, Fort Worth, TX 76101. Or come to the FWHA
administrative office and complete an interest form.
If you meet the
following minimum threshold requirements, your name will be referred
to the City of Fort Worth Housing Department. You will be scheduled
to attend an orientation meeting where you will learn the requirements
of the program. If you do not meet the minimum threshold requirements
you will receive a denial letter from FWHA explaining why you are not
eligible for referral.
Threshold Requirements
To participate in the
Housing Choice Voucher Homeownership Program, requirements are:
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Be on the FWHA
Housing Choice Voucher Program Tenant-Based Assistance for one year
or more.
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Minimum annual
income of $16,000.00.
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Elderly and
Disabled individuals must have a minimum annual income of $10,300.
Additional
Requirements:
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Be a first time home
-buyer as defined by HUD.
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Have a minimum down
payment of 3% of sales price;
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And 1% of minimum
down payment must be from PERSONAL FUNDS of participant.
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Complete
Homeownership pre-purchase education, training, and counseling.
Frequently Asked
Questions
Is this a rent-to-own
program?
No.
The Homeownership Program provides assistance with mortgage expenses
for Housing Choice Participants who purchase a home. You must be
determined “mortgage ready”.
Do I have to be a
Housing Choice Voucher holder in order to qualify for participation in
the Homeownership Program?
Yes.
You are required to be on Housing Choice Tenant-based assistance for
at least one year.
I am not working now.
Can I apply for the program?
No.
You must be employed full-time. Elderly persons and individuals with
disabilities are exempt from the employment requirements.
I have bad credit.
What can I do?
First, you will meet and work closely with a credit
counselor, who will help you develop a personal plan of action for
credit repairs.
If I am denied, can I
reapply?
Yes.
Once you have met the threshold requirements
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The Family
Self-Sufficiency Program
The Family Self-Sufficiency Program (FSS) is designed to help
Housing Choice Voucher families and Public Housing residents become
economically self-sufficient. Families meet with the FSS Specialist
and establish goals that span a five-year period of time. These goals
are unique to each family and may include furthering education,
obtaining vocational training, opening a small business, and
homeownership. Employment assistance through job fairs and contacts
with various employers is provided to FSS participants. The FSS
Specialist also guides the family to supportive services and resources
in the community.
An added incentive of the FSS program is the FSS Escrow
account which is established for the family. When a family’s rent
increases due to increases in earned income, FWHA begins to set aside
money for the family in an escrow account. While the family is on the
FSS program, each increase in their rent due to earned income triggers
funds to be deposited into the account. After the family has
successfully completed the FSS program, they are eligible to receive
the escrow money.
The FSS program is currently accepting applications. If you
are a Housing Choice Voucher participant or a Public Housing resident,
please contact Letetia Holt for more information at 817-336-2419 ext.
2407.
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