Program Overview
CHA's Choose to Own Homeownership Program (CTO) allows qualified Housing Choice Voucher (HCV) and Public Housing families to use their housing subsidy to buy a home and receive monthly assistance with a portion of their mortgage payment. In addition to financial assistance toward the mortgage payment, the CTO program provides referrals to pre- and post-purchase homebuyer education, credit counseling, real estate and lending professionals, and other services to help families navigate the homebuying process.
Most CTO families utilize the voucher to pay a portion of their mortgage - the same way families use a voucher to pay a portion of their rent. CHA uses the Housing Assistance Payment (HAP) to help families pay a portion of their monthly mortgage payment for up to 15 years for working head of households and up to 30 years for elderly (age 62+) and disabled head of households.
Click here for full eligibility guidelines.
Full Eligibility Requirements for the Choose to Own Program
- You must be a CHA voucher holder or public housing resident for a minimum of one (1) year.
- You must be in compliance and in good standing with HCV or PH lease.
- You must be a first-time homebuyer and may not have owned a home in the last 3 years.
- Be a first-time homebuyer, meaning you have not owned a home in the last three years.
- You must meet the income, credit, and savings requirements.
Credit
Must be credit worthy with 1 year of good credit history.
Savings/Down Payment
- Working or self-employed families must have $3,000 in a bank account with the capability of continuing to save.
- Elderly (62+) or disabled head of households must have $2,000 in a bank account with the capability of continuing to save.
Orientation Sessions
Virtual Orientation
Attend a Virtual Session to learn more about the CTO program.
Virtual Orientation
Attend a Virtual Session to learn more about the CTO program.
Virtual Orientation
Attend a Virtual Session to learn more about the CTO program.
