What about financing?

The participating family ultimately is responsible for securing its own financing. The Garland Housing Agency may develop partnerships with lenders to assist the family in obtaining financing, but can not require the use of certain lenders. A family may choose any lender it wishes.

Voucher funds can not be used to assist with financing costs, such as down payment or closing costs. If you do receive down payment assistance through another funding resource, make sure you understand all of their requirements and the impact they may have on any home ownership and financial decisions you may make in the future.

Show All Answers

1. What is the Housing Choice Voucher Home Ownership Program?
2. Who qualifies?
3. How do I know I'm ready for home ownership?
4. What is an eligible home?
5. Will you find me a home to live in?
6. Will I need to get my home inspected?
7. What about financing?
8. Can my family help me buy the home?
9. Am I limited to how much I may pay for a home?
10. How do I make the mortgage payments?
11. What do I pay for?
12. Are there ongoing requirements?
13. Will I still have to have a re-certification meeting each year, even after I purchase the home?
14. Are there any time limits?
15. Can I purchase another home?
16. Will purchasing a home make me ineligible for other assistance programs such as food stamps, Medicaid and Medicare?
17. What if I have trouble maintaining my home or paying my mortgage?
18. What if I get terminated from the program?