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Homeownership Program

HOMEOWNERSHIP PROGRAM

Through the Homeownership Program, LMHA seeks to help eligible Public Housing and Housing Choice Voucher (HCV) participants apply their subsidy towards a monthly home mortgage payment, instead of rent. This assistance can only be used toward monthly mortgage payments. Program participants must cover all costs associated with purchase including inspections, down payment, closing costs, as well as ongoing home repairs and maintenance after purchase.

Eligibility Requirements:

  • Must participate in homebuyer education and counseling courses through a HUD approved counseling agency and receive a certificate of completion.
  • First-time homeowner (hasn’t owned a home in the last 3 years).
  • Working families- The head of household must have been employed for one full year and fit into one of the following categories: 
    • Earning at least $14,500 annually and working 30+ hours per week.
    • Earning at least $16.494 annually and working 25+ hours per week.
  • Disabled and elderly families- The head of household must be 62+ (or) disabled and receiving at least $10,092 in social security or SSI benefits.
  • All household members (excluding head of household-see above) who are 18 years of age or older must be working full time or in school full time if not elderly or disabled. A combination of work and school may be considered.
  • Has not defaulted on a mortgage to purchase a home under the Homeownership option.
  • Does not have present ownership interest in another residence.
  • Has not been in the termination of assistance process more than once in the last 2 years.
  • Has had a stable family composition for at least 1 year.
  • Has completed 1 year under lease through Section 8 or Public Housing.
  • Has been under the current rental lease, in the same unit, for over 1 year.
  • Must be on a month-to-month lease or the landlord is willing to make an exception.
  • Does not owe the Louisville Metro Housing Authority, or any other Housing Authority, an outstanding debt.

Terms of Assistance:

For working families- 15 years if the mortgage has a term of over 20 years, or 10 years in all other cases while income eligible. 

For disabled families- The entire term of the loan while remaining income eligible.


Are you ready to stop paying rent and purchase your own home?

LMHA can help!

The first step is to attend an informational orientation to hear all about the program and decide if it is right for you.
Click here for a Welcome Packet with information and orientation dates.  Or you can call the Homeownership Program hotline to request the packet be mailed to you:

Homeownership Program Hotline

502-569-6060 Ext 6960




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