Welcome to the Housing Authority of the County of Riverside

Homeownership Program information page

An eligible Housing Choice Voucher Program  (Section 8) family, except for families with a disabled member (see below), must be considered a first-time home buyer. A first-time home buyer means that no member of the household has had an ownership interest in any residence during the three years preceding the receipt of homeownership assistance. The purchaser must sign a sworn application attesting that they have not owned a home. In addition, the last three years tax returns will be reviewed to ascertain that no mortgage interest or real estate tax deductions have been claimed. An exception includes a person who qualifies as a displaced homemaker or a single parent who, while previously married, owned a home with his or her spouse. 

• ¬     Analysis of family income, credit reports and income/job history and a follow-up plan

• ¬     Assistance with cleaning up of credit problems

• ¬     Working closely with Family Self Sufficiency (FSS) to obtain the goal of “HOMEOWNERSHIP” while earning an escrow account

• ¬     20% of the purchase price given to tenants in the form of a “silent second” with a resale restriction of 45 years.  Families do not pay on any portion of this money while in the home. 

• ¬     Ability for tenants that are qualified to submit a Pre-Qualification Wait List Applications for the Infill Houses that are being built throughout Riverside County by the Redevelopment Agency. These homes will be sold for below market value

951-343-5448 or (800) 655-4228 Ext. 5448 or email her at ggates@rivcoeda.org

 

Click here for information on the Family Self-Sufficiency Program