Homeownership
Through the Housing Choice Voucher Program, qualified households may elect to participate in the Housing Authority of Joliet’s Homeownership Program and eventually become homeowners.
Who is eligible to apply for the program?
Any active and qualified Housing Choice Voucher Program head of household may be considered for participation in the program.
What type of home may a participant purchase?
Participants may purchase a single-family home, townhouse, condominium, or one side of a duplex that is located anywhere within Will County.
What are the selection criteria to participate in the program?
Individuals must currently reside within Will County and be in possession of a valid Housing Choice Voucher for the past twelve (12) months.
Individuals must be a first-time homebuyer, a displaced homeowner, or not have owned their own home within the immediate past three (3) year period.
Except in the cases of elderly and disabled families, individuals must have maintained continuous and uninterrupted full-time employment during the past one (1) year period.
Households must maintain a minimum annual income of $14,500;
Households classified as elderly and/or disabled must maintain a minimum annual income of $8,088
The down payment required is three percent (3%) of the purchase price, of which, one percent (1%) must come from personal resources.
Households must be credit qualified and able to obtain mortgage financing; and
Households must be willing to obtain and pay for a home/property inspection by an independent professional building inspector.
Households must successfully complete a 12-hour pre-purchase and 6 hour post-purchase educational program that is sponsored through the Housing Authority of Joliet.
How long will the Housing Authority financially assist a new homeowner?
Participants will receive financial assistance with homeownership expenses (mortgage payments) for a maximum term of fifteen (15) years. There is no maximum assistance term limit for households classified as elderly or disabled.
How many program participants are currently homeowners?
As of December 2008, the Housing Authority of Joliet has eighteen (18) homeowners through the Housing Choice Voucher Program’s Homeownership Program.
What is the average price of a home purchased through the program?
Based on household income, homeowners have been able to purchase homes ranging from $90,000 to $191,000. The average purchase price of a home through the program has been approximately $137,257.
Homeownership Partners with the Housing Authority of Joliet
The Housing Authority of Joliet works in cooperation with the City of Joliet’s Community Development Department First Time Home Buyer Program, Will-Grundy Center for Independent Living and the Illinois Housing Development Authority’s American Dream Down-payment Initiative (ADDI) Program.
Program Contact Information
All inquiries regarding the Homeownership Program should be addressed with the Housing Authority of Joliet’s Homeownership Program Coordinator, Ms. Mary Ann Spights, at (815) 727-0611, extension 169.
HCV Homeownership Program Coordinator, Mary Ann Spights
The HCV Homeownership Program Coordinator is a sixteen (16) year veteran of the Housing Authority of Joliet. She began her affordable housing career in November 1992 as a Public Housing Occupancy Specialist, was promoted to Maintenance Office Manager in 1998, and promoted to the position of Homeowner Specialist in February 2003. She was certified as a Homebuyer Education trainer in 2003 by Neighbor Works. As her knowledge and responsibilities of the home buying process increased, her title was upgraded to that of HCV Homeownership Program Coordinator. Her efforts have helped families to overcome barriers to homeownership and assisted families to become successful homeowners. Her passion for the program has enhanced the image of the Housing Authority of Joliet's Homeownership Program within the City, county, and with other housing authorities throughout the state.