2013 CMHA HCVP Admin Plan - Cuyahoga Metropolitan Housing ...

Administrative Plan.
Families must be in full compliance with their lease and HCVP Tenant-based program
requirements.
The family must qualify as a first-time homeowner or may be a co-operative member
The income limits for the program are in accordance with the annual limits in effect for
the current fiscal year.
o The minimum income required by HUD is the Federal minimum wage multiplied
by 2,000 hours. CMHA has adopted a higher minimum income requirement; the
minimum income for CMHA’s program eligibility is $15,000 depending upon
family size. (Welfare assistance will be considered in determining income
eligibility for families where the head-of-household is elderly or has a disability,
as HUD notes that, to the extent applicable, lenders must comply with the Equal
Credit Opportunity Act, which prohibits discrimination, including discrimination
based upon receipt of public assistance as noted in 15 U.S.C. §1691(a) It shall be
unlawful for any creditor to discriminate against any applicant, with respect to
any aspect of a credit transaction, (1) on the basis of race, color, religion, national
origin, sex or marital status, or age (provided the applicant has the capacity to
contract) (2) because all or part of the applicant’s income derives from any public
assistance program.)
The family must meet the Federal minimum employment requirement:
At least one adult family member who will own the home must be currently employed
full time and must have been continuously employed for one year prior to
homeownership assistance. HUD regulations define “full-time employment” as not less
than an average of 30 hours per week.
The Federal minimum employment requirement does not apply to elderly or disabled families.
Any family member who has previously defaulted on a mortgage obtained through the
Homeownership Option is barred from receiving future Homeownership assistance.
Homeownership Counseling Requirements [24 CFR 982.630]
When the family has been determined eligible, they must attend and successfully complete pre-
Homeownership counseling sessions. Such counseling shall be consistent with HUD-approved
housing counseling.
Counseling shall include:
Home maintenance (including care of the grounds);
Budgeting and money management;
Credit counseling;
How to negotiate the purchase price of a home;
How to obtain Homeownership financing and loan pre-approvals, including a description
of types of financing that may be available, and the pros and cons of different types of
financing;
Copyright 2000 by Nan McKay & Associates
To be printed only with permission of Nan McKay & Associates
Unlimited copies may be made for internal use
Approved by CMHA Board of Commissioners
October 3, 2012
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