Homeownership – DuPage Program Closed
What is the Housing Choice Voucher Homeownership Voucher Program?
The idea of the Housing Choice Voucher (Section 8) Homeownership Voucher Program is to use the money from a regular Housing Choice Voucher rental voucher to help a family buy a home or meet monthly homeownership expenses.
In order to use the program, you must have a Housing Choice Voucher (HCV). Once you have a voucher, and if your housing authority offers the HCV homeownership program, you can begin looking for a housing unit to buy.
Once you find a housing unit to buy, the housing authority will make the monthly homeownership assistance payment for you. The housing authority may make the payment to the lender directly or to your household.
The amount of the subsidy for the homeownership program is determined the same as your rental voucher would have been.
DuPage Housing Authority is currently not taking new Homeownership participants and not all housing authorities offer the homeownership option as part of their voucher program.
Does DuPage Housing Authority have a Homeownership Voucher Program?
DuPage Housing Authority is NOT taking new Homeownership participants due to funding. We are currently serving those that were “grand-fathered” in from years ago. However, we are actively seeking opportunities to provide this program to the DuPage community again.
Does DuPage County Offer Other Homeownership Programs or resources without a voucher?
DuPage Homeownership Center (DHOC) is a nonprofit organization that provides a full range of services to promote responsible sustainable homeownership, with an emphasis on serving first-time homebuyers, low-and-moderate-income households and homeowners in crisis. DHOC is a resource in educating and empowering individuals to be successful homeowners through the use of innovative programming and partnerships. For more information about the DuPage Homeownership Center, visit www.dhoc.org or call (630) 260-2500.
You can also use the Illinois Housing Development Authority as a resource by visiting their website at https://www.ihda.org/my-home/buying-a-house/
If you are having trouble paying your mortgage, there are programs that can help you. DuPage Homeownership Center provides comprehensive housing counseling and financial literacy services throughout the year. For more information about the DuPage Homeownership Center, visit www.dhoc.org or call (630) 260-2500.
You may also find more information through Illinois Housing Development Authority by visiting https://www.ihda.org/my-home/saving-my-home/ or call (312) 836-5200.