Posted by James Harris on October 12, 2007 at 06:21:10:
Yes, check with section 8. Because in my area, Missouri,; those on section 8 can buy the properties that they curently rent; after they go through a 10 week course.
Financing with a Section 8 Voucher - Posted by Chris
Posted by Chris on October 08, 2007 at 14:27:06:
I have a property that I’m about to rent out to a section 8 tenant. They love the house and would buy it from me if they could afford it. I have been told that they can actually buy the house from me and use their voucher as their payment. Is this true??? If so, I would need 100% financing or as close as possible. I understand that it is still possible to get 100% with OO FHA Insured. Is using the voucher possible to get FHA financing?
Thanks in advance.
Re: Financing with a Section 8 Voucher - Posted by Jack KY
Posted by Jack KY on October 11, 2007 at 14:09:53:
I’m no expert on Sec. 8, but I don’t think that Sec 8 tenants can buy with their voucher.
There is a Housing Authority program for Sec 8 and other low income folks to buy houses (called Community Ventures in my area), but I’m pretty sure it is not with the rent money.
I hope someone who knows for sure will chime in. I have a few Sec 8 tenants who want to do the same thing.
We should peruse the Section 8 and HUD websites, I suppose.
Cheers–Jack