HCV Homeownership


The Housing Choice Voucher (HCV) Homeownership Program permits eligible participants in the HCV Program the option of purchasing a home with their HCV, rather than renting.

Frequently Asked Questions 

If I am currently a participant in the Housing Choice Voucher program and receive rental assistance can I use my voucher to buy a home and receive monthly assistance in meeting homeownership expenses?

Yes, if you meet income and other eligibility requirements.

If I don't have a rental voucher what do I do?

You have to apply for a Housing Choice Voucher and be an active participant as a renter for at least one year. Or you can check out our Neighborhood Revitalization Programs and incentives available for purchasing a home.

What families are eligible to apply for homeownership vouchers?

Families must meet these requirements: 

  • First-time homeowner or cooperative member.
  • No family member has owned or had ownership interest in their residence for at least three years.
  • Except for cooperative members, no member of the family has any ownership interest in any residential property.
  • Minimum income requirement. Except in the case of elderly or disabled families.
  • Employment requirement. Except in the case of elderly and disabled families, one or more adults in the family who will own the home is currently employed on a full-time basis and has been continuously employed on a full-time basis for at least one year before commencement of homeownership assistance.
  • Additional Housing Agency eligibility requirements. The family meets any other initial eligibility requirements set by the PHA.
  • Homeownership counseling. The family must attend and satisfactorily complete the Housing Agency’s pre-assistance homeownership and housing counseling program.
  • Must be capable to qualify for approved financing and provide at least 3% of the purchase price as a down payment for the home. First-Time Homebuyer assistance is available.

Are there any standards for the home to be purchased under this program?

The home must pass an initial housing quality standards inspection conducted by the City of Dubuque Housing Inspector and an independent home inspection before the City may approve the purchase by the family.

What are monthly homeownership expenses?

Monthly homeownership expenses include: 

1. Mortgage principal and interest, 

2. Mortgage insurance premium, 

3. Real estate taxes and homeowner insurance, 

4. PHA allowance for utilities,

5. PHA allowance for routine maintenance costs, 

6. PHA allowance for major repairs and replacements, 

7. Principal and interest on debt to finance major repairs and replacements for the home, and

8. Principal and interest on debt to finance costs to make the home accessible for a family member with disabilities if the PHA determines it is needed as a reasonable accommodation. 

How long can a family receive assistance under this program?

There is no time limit for an elderly household or a disabled family. For all other families, there is a mandatory term limit of 15 years if the initial mortgage incurred to finance purchase of the home has a term that is 20 years or longer, and for all other cases the maximum term of homeownership assistance is 10 years.

Who can I talk with to obtain additional information about this program?

You can call your caseworker at (563) 589-4230.