Home Buying in 07753>Question Details

Leah Ashton, Renter in Eatontown, NJ

how can i buy a home with section 8?

Asked by Leah Ashton, Eatontown, NJ Mon Oct 14, 2013

i have been thinking a lot about buying a home. im tired of the issues of aggravating neighbors, being treated like im in jail instead of just on section 8 and the sterotypes i get when i mention or ask if its accepted

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Answers

8
I just read the information on the link Leah provided and it says the following:

"A housing subsidy is paid to the landlord directly by the PHA on behalf of the participating family. The family then pays the difference between the actual rent charged by the landlord and the amount subsidized by the program. UNDER CERTAIN CIRCUMSTANCES, IF AUTHORIZED BY THE PHA, A FAMILY MAY USES IT'S VOUCHER TO PURCHASE A MODEST HOME"
(my emphasis)

So I guess you have to call the local PHA and see if you are eligible.
1 vote Thank Flag Link Wed Oct 16, 2013
You can purchase a house with a section 8 voucher. You need to contact you PHH to make sure that you qualify.

Mona Hulteen, Sr. Loan Officer, Advisors Mortage Group, Wall NJ 732-233-9436
0 votes Thank Flag Link Thu Jan 23, 2014
You are welcome. Letu us know how it works out. It's a good learning experience for us as Realtors especially since I have never seen this question asked and would love to know the answer for future reference.

:)
0 votes Thank Flag Link Thu Oct 17, 2013
thanks Ray. And thanks mary. i will look that up
0 votes Thank Flag Link Thu Oct 17, 2013
Leah,

The Equal Credit Opportunity Act prohibits the discouragement or denial of a mortgage solely based on public assistance income.

Keep in mind income is just one of many factors considered when getting approved for a mortgage.
0 votes Thank Flag Link Wed Oct 16, 2013
its not mary. i do know there are.programs that will help. just have to research some. more
0 votes Thank Flag Link Tue Oct 15, 2013
I do not believe that subsidized housing dollars can be used to purchase a home. I believe section 8 is strictly for rentals.
0 votes Thank Flag Link Tue Oct 15, 2013
Leah,

Here is a website link that you should find helpful:

http://portal.hud.gov/hudportal/HUD?src=/topics/housing_choi…

I believe the office you would go to to apply is located in
Asbury Park.

I would be happy to assist you once you determine that you
qualify for the program.

Best of luck!

Patty Lipert
Heritage House Sotheby's Int'l Realty
PattyLipert@comcast.net
732-216-6917
0 votes Thank Flag Link Tue Oct 15, 2013
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