08/09/2026
š Turn Your Rent into Equity with the HCV Homeownership Program!
Did you know that Housing Choice Voucher assistance can help eligible families purchase their own home? If youāve been dreaming of achieving homeownership, weāre here to help guide you through the process every step of the way.
Here is an overview of the Housing Choice Voucher (HCV) Homeownership Program:
Program Purpose: The HCV Homeownership Program allows eligible participants who currently receive rental assistance through the Housing Choice Voucher program to use their voucher subsidy toward purchasing a home rather than paying rent.
How It Works: Instead of subsidizing monthly rent payments made to a landlord, the HRA applies the monthly housing assistance payment toward the participantās eligible homeownership expenses, such as mortgage principal, interest, taxes, and insurance.
Participant Eligibility:
Must be a current HCV program participant in good standing (or meet specific minimum income and employment requirements set by the HRA).
Typically must complete mandatory homebuyer education and counseling courses before purchasing.
Key Benefit: It provides a bridge from renting to long-term financial stability and home equity building.
If you have questions about specific requirements or want to get started, you can reach out to Jasper at the Brainerd HRA:
Phone: 218-824-3431
Email: [email protected]