HOME OWNERSHIP: If you have questions - please contact the front desk at BHA at 360-479-3694 and ask for Sarah Van Cleve.
The Home ownership Program is offered to eligible Bremerton Housing Authority (BHA) voucher holders. The program allows participants to have their housing subsidy applied towards a monthly mortgage payment, after a home is purchased. Residents who wish to join the program must meet certain eligibility requirements and when deemed eligible they are required to attend a home ownership orientation and education course in order to prepare for home ownership. Participants select homes for purchase and secure their own mortgage financing through a lender.
Similarities between renting with BHA and Homeownership
- Residents contribute 30% of their income towards either their monthly rent or a mortgage.
- BHA uses the same payment standard as used in calculating a housing assistance payment for renting an apartment.
- Must be a resident in “good standing” with no lease violations or outstanding rent payments
- Must be a first-time homebuyer
- Must have been working full time, consistently for one year and work equal to or more than 30 hours/week.
- No minimum income requirement for the elderly (62+) or disabled (head of household or their spouse)
- Credit scores of 640 or above for mortgage applicants
- Must have a minimum of $1,000 in savings
Eligible Home must be located within Kitsap County
- Must be owner occupied
- Must pass Housing Quality Standards (HQS)
Duration of Mortgage Subsidy
- 15 year mortgage for working voucher holder
- 30 years if resident is elderly (62 years or older) or disabled at the time of purchase