mshda payment standards 2021 mshda payment standards 2021

VA loans are especially generous, providing competitive interest rates, often requiring no down payment or mortgage insurance. There is no notice of when this waiting list will reopen. This waiting list is for Section 8 Project-Based Voucher rental assistance in Oak Park, Michigan. The minimum credit score is 640. This waiting list is for Senior and Disabled Section 8 Project-Based Voucher rental assistance in Clawson, Minnesota. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. info@ncsha.org The Michigan Down Payment program offers down payment help up to $7,500. The Michigan State Housing Development AuthoritySection 8 Project-Based Voucher waiting list for 1 and 2-Bedroom apartments at Shelby Trails is currently open. hbbd``b`S@D`[b} Hx2012!3` With a DB101 account, you can easily save and find your favorite DB101 pages, mini-tools, and estimator sessions. However, there are no limits on which neighborhood you live in. The program can help renter households with incomes less than 80% of the Area. When leasing and rental assistance funds are used to pay rent for individual housing units, the rent paid must be reasonable in relation to rents be charged for comparable units, taking into account the location, size, type, and age of unit, as well as any amenities, housing services, maintenance, and utilities provided by the owner. The Michigan State Housing Development Authority (MSHDA) offers a Down Payment program that helps with a down payment of up to $7,500 for people buying a home for the first time and for repeat homebuyers in certain areas. Patty Leonard, senior residential loan officer with Independent Bank, says this occasionally surprises applicants, and it can sometimes be an issue that disqualifies them from the program. It is paid for by the federal government and managed by local public housing authorities (PHAs). Get the facts about how benefits support work. The Section 8 housing choice voucher program (also called tenant-based Section 8) is the largest voucher program. Their flagship down payment assistance (DPA) programs provide up to $7,500 in assistance, which can be used towards the down payment, closing costs, and prepaid and escrow items. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. (517) 373-8370. The Mortgage Credit Certificate program issues a federal tax credit to first-time home buyers throughout Michigan, and to repeat home buyers in targeted areas. If you still cant find a place, the PHA can submit a request to the federal Department of Housing and Urban Development (HUD) asking for a specially approved payment amount that lets you get a place with higher rent. Tuesday, August 10, 2021 HUD Deputy Secretary Todman, Officials Discuss $5.5 Million in Federal Disaster Recovery and Resilience Funds for Midland, Michigan Read More. state:michigan ----- 2021 home program rents -----program efficiency 1 br 2 br 3 br 4 br 5 br 6 br lansing-east lansing, mi msa low home rent limit 702 740 902 1043 1163 1283 1403 high home rent limit 710 740 909 1171 1264 1454 1643 . To apply during the opening period, applicants were required tocomplete the online application. Earlier this year, MSHDA announced its MI 10K DPA program, which offers up to $10,000 in assistance. In Michigan, the credit equals 20 percent of your annual mortgage interest, capped at $2,000 a year. You have to contribute at least 1% of the loan amount, even with down payment assistance. Like rental vouchers, there may be a time limit for buying a home. A B2W Coach can help you understand how Social Security disability benefits and other public benefits are impacted by work. This Picture of Subsidized Households data field is the average wait time of those who received a voucher in the preceding 12 months. Learn about programs that can help you prepare for and find work. All financial products, shopping products and services are presented without warranty. endstream endobj 304 0 obj <>/Metadata 4 0 R/Pages 301 0 R/StructTreeRoot 8 0 R/Type/Catalog/ViewerPreferences 318 0 R>> endobj 305 0 obj <>/MediaBox[0 0 792 612]/Parent 301 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 306 0 obj <>stream After you meet all the requirements, Key to Own staff can help you find a participating lender to get you pre-approved for a mortgage. Executing over 2,000 repayment agreements totaling over $4.5 million in collectable. Some of the results stemming from the five-year PHA plan to date include: The MSHDA Board also approved $36.6 million in loans for HOM Flats at Maynard in Grand Rapids, a new construction development that will contain 240 Low-Income Housing Tax Credit family units. Comment Regarding: Housing: Homeownership Programs, homeownership assistance programs by Michigan cities and towns, Contact your nearest Habitat for Humanity chapter for more info, financial and other resources for homeowners facing foreclosure, basic information on mortgage foreclosure, comprehensive guide for Avoiding Foreclosure, Getting Past the Myths: The Truth About Working, Ask a Michigan Benefit-to-Work (B2W) Coach, Some cities and counties offer financial help that may cut your share of the down payment to as little as 1% of the purchase price. After you apply, your name is put on a waiting list. Offered by most lenders, the loans have low down payment or flexible credit requirements. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Sources: This information was verified by the MSHDAon February 9, 2022. Sources: This information was verified by the MSHDA public notice on May 11, 2021. 0 The average utility allowance across all voucher recipients is $119. When you are approved for a Section 8 housing choice voucher, the PHA may tell you that to get your voucher, you have to live in a specific unit for at least one year. %%EOF If you think a landlord is discriminating against you and refusing to rent to you because of your disability, ask the housing authority for help. The PHA enters into a contract with the landlord to provide housing assistance payments on behalf of the family. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. One of the most critical things for buyers to know is that like other DPA programs, the MSHDA assistance loans are not free money, They are zero-interest, non-amortizing loans with no monthly payments, but they are not forgivable. A1c \`p=31n`iC?_ym/t fa`rH10. However, both lenders suggest that potential borrowers discuss the program with a local professional to make sure they understand the details. The MSHDA is accepting applications for this waiting list from January 25, 2022,until further notice. There are income limitations, which vary by region. However, many would-be homeowners are unaware that there are more than 2,500 down payment assistance (DPA) programs available across the country that provide a financial boost for lower-income households and those in areas with high housing prices. Applications were last accepted from May 10, 2021until October 19, 2021. The U.S. Department of Veterans Affairs helps service members, veterans and surviving spouses buy homes. Those with scores below that must meet more stringent underwriting standards. Be sure to open all mail from your lender, and call for help as soon as you receive a warning notice from your lender: These hotlines have experts who answer the phone and give you information about what you can do to keep your home. In the greater Lansing area, the typical income limit is $81,960 for one to two people and $95,620 for three or more. Discover ways to save up money while working. This new DPA offers a loan covering much of the cost of purchasing a home. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Learn more about ABLE Accounts. The Step Forward Michigan Program at 1-866-946-7432 may be able to help you catch up on your mortgage or tax payments. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Beth Buczynski is a lead assigning editor on the international expansion team at NerdWallet. The Michigan State Housing Development Authority (MSHDA) Section 8 Project-Based Voucher waiting list for 1-Bedroomapartments at Rivers Edge is closed. m){12Je,;9vh,J q#$#ON|SJAs}|;*MW_. H? vK16{j?_g?_Iq 7 =.qqr @o=yoiYN6Oo^y.MV+ 3prPd@-H,5KDKtCt?t` } Spend some time looking at your results. What you need to know: The MI Home Loan is for first-time home buyers (and repeat buyers in targeted areas) with low to moderate incomes. Applications were last accepted from August 20, 2019, until an unconfirmed close date. Section 8 offers other benefits: To get any type of Section 8 benefits, you must: You may be more likely to qualify for Section 8 if you: When you apply, the people reviewing your application take into account: Learn more about how to apply for Section 8 vouchers at public housing authorities. The Federal Housing Administration allows down payments as low as 3.5% for those with credit scores of 580 or higher. Pre-qualified offers are not binding. Applications were last accepted from September 18, 2019, until an unconfirmed close date. The Michigan State Housing Development Authority (MSHDA) Section 8 Project-Based Voucherwaiting list for apartments at Center Ridge Arms is currently closed. 1087 0 obj <>/Filter/FlateDecode/ID[<0401B08009172542B7CAEFD8401A02E1>]/Index[1065 38]/Info 1064 0 R/Length 107/Prev 132663/Root 1066 0 R/Size 1103/Type/XRef/W[1 3 1]>>stream This new program is only available in 236 zip codes within the state, and a list of qualifying areas can be found on the MSHDA website. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, Michigan First-Time Home Buyer Programs of 2021. 554 0 obj <>/Filter/FlateDecode/ID[<748FC015D084734AA2A3AF389DC36040><4E8D967B4B9D0649945319BD7AB78C56>]/Index[528 43]/Info 527 0 R/Length 123/Prev 275033/Root 529 0 R/Size 571/Type/XRef/W[1 3 1]>>stream 2022 Payment Standards The following Payment Standards will be used by OCHA for administration of the Housing Choice Voucher Program effective October 1, 2021. Lapeer 766 903 1,153 1,478 1,603 1,843 2,084 2,325 2,565 574 460 Leelanau You wont get Section 8 benefits anymore, but that is fine because youll own your own home and wont owe any more payments on it. Here is a list of our partners. The Michigan State Housing Development Authority is acceptingSection 8 Housing Choice Voucherwaiting list applications forAlcona, Alger, Allegan, Alpena, Antrim, Arenac, Baraga, Barry, Benzie, Berrien, Branch, Calhoun, Cass, Charlevoix, Cheboygan, Chippewa, Clinton, Crawford, Delta, Dickinson, Emmet, Gladwin, Gogebic, Grand Traverse, Gratiot, Hilldale, Houghton, Ionia, Iosco, Iron, Isabella, Kalkaska, Keweenaw, Lake, Leelanau, Lenawee, Livingston, Luce, Mackinac, Manistee, Marquette, Mason, Mecosta, Menominee, Missaukee, Montcalm, Montmorency, Newaygo, Oceana, Ogemaw, Ontonagon, Osceola, Oscoda, Otsego, Presque Isle, Roscommon, Schoolcraft, Shiawassee, St. Joseph, Van Buren and Wexford Countyfrom March 22, 2023, until April 5, 2023. 528 0 obj <> endobj We adhere to the highest editorial standards to ensure our readers have the information necessary to make financial decisions with confidence. Most IDA programs only let you save a limited amount of money in your account, usually $4,000 - $6,000. The gift may affect the income taxes of the person giving the money, but there are usually no limits on the amount of the gift. The Michigan State Housing Development Authority (MSHDA) Section 8 Project-Based Voucher waiting list for 1, 2 and 3-Bedroomapartments at Unity Park V is currently closed. Alternative credit review is available for some borrowers who have no credit score. Payment Standard Table, Effective 12/01/2020. Our partners cannot pay us to guarantee favorable reviews of their products or services. The Michigan State Housing Development Authority offers mortgage programs for both first-time home buyers and repeat buyers. However, it is illegal for them to refuse to rent to you because you have a disability. Approval for the annual PHA plan came during the Boards March meeting. This waiting list is for Section 8 Project-Based Voucher rental assistance in Pontiac, Michigan. Landlord: The role of the landlord in the HCV program is to provide decent, safe, and sanitary housing to a tenant at a reasonable rent. A B2W Coach can help you understand how Social Security disability benefits and other public benefits are impacted by work. The MSHDA program requires an investment from the borrower of 1 percent of the purchase price, and there are also household income limits that vary depending on family size and property location. The rules are different for every program. Please note: According to the MSHDApublic notice, "Applicants may qualify for assistance at Clawson Manor Apartments, if theincome falls within the allowable limits (50% percent of area median income) for Oakland County, andmeet the following program requirements: Elderly (62+) and/or Disabled.". 0 The Michigan State Housing Development Authority (MSHDA) has announced it will begin offering more money to homebuyers through its homeownership program. Approval for the annual PHA plan came during the Board's March meeting. %PDF-1.7 % 65% of households headed by someone 62 or older were headed by a person with a disability. There is no notice when this waiting list will reopen. With a DB101 account, you can easily save and find your favorite DB101 pages, mini-tools, and estimator sessions. Are you sure you want to lock your account? 35% of voucher holders reside in a home with zero or 1 bedroom, 35% with 2 bedrooms and 30% with 3 or more bedrooms. You can read more about IDAs and how to find an IDA program in DB101s Building Your Assets and Wealth article. These families, Homeless County of Application Residency (Applicant who is homeless and is living or working in the county of application), Disabled County of Application Residency (Applicant who is disabled and is living or working in the county of application), County of Application Residency (Applicant who is living or working in the county of application), Disabled Michigan Residency (Applicant who is disabled but is not living or working in the county of application), Michigan Residency (Applicant who is not living or working in the county of application), Disabled Out of state Residency (Applicant who is disabled and a non-Michigan resident), Out of state Residency (Applicant who is a non-Michigan resident), Preferences will be provided to Highly Vulnerable Prioritized Population. Project Based Section 8 Rental Assistance, Michigan State Housing Development Authority. MI As a writer, Beth's work was featured by The Associated Press, The Washington Post and Money magazine, among others. There are also restrictions on lot size 2 acres is typically the max, but there are some exceptions. One of the ways it does this is through the MSHDA down payment assistance program, which is essentially a separate loan second to a borrowers first mortgage that provides up to $7,500 in down payment assistance. There is no notice of when this waiting list will reopen. endstream endobj 2161 0 obj <. With Section 8, you pay about 30% to 40% of your monthly household income for rent in privately-owned housing, while the government pays the rest. The first option is MSHDAs MI Home Loan, which is available to first-time homebuyers statewide and repeat homebuyers in targeted areas. Please note: According to the MSHDA public notice, "You may qualify for assistance at Hilltop View, if your household income falls within the MSHDA allowable extremely low income for your family size, you meet program requirements and at least one of the following Supportive Housing Categories: To apply during the opening period, applicants were required to call theHousing Access of Washtenaw County office. For example, if you have a mental illness and your problem with your housing happened because you were not on a medication you need, you may be eligible for Section 8 again if you explain that you are now receiving treatment. Applications were last accepted from March 29, 2021, until further notice. In addition to these guidelines, there are a few other qualifying factors. There is no notice of when this waiting list will reopen. This assistance comes in the form of a second mortgage that charges 0% interest and requires no monthly payments. Important: For security, don't send private information like your address, Social Security number, program ID/member numbers, or birth date. And it doesnt require all adults who intend to live in the home to apply for and qualify for a mortgage. Available to first-timers as well as repeat home buyers in certain economically disadvantaged target areas. Here are some other ways you may be able to get help with your down payment and mortgage: An Individual Development Account lets you save up money to buy a home, pay for higher education, or run your small business. For more information, visit the MSHDA Housing Choice Voucher Waiting List Information page, orthe MSHDA website. endstream endobj startxref hb``a``*e```01G300 IF#631|d5H330u10'A~` Y Generally, you must be working, but have low total income. This waiting list is for Section 8 Project-Based Voucher rental assistance in Lincoln Park, Michigan. There are waiting lists, and it can take time before you get a housing voucher. Here is a list of our partners. Please note: According to the MSHDA public notice,"HCV/PBV Program is partnering with VOK LDHA LLC, KMG Prestige and Pine Grove Housing Service" to provide units at this property. This waiting list is for Section 8 Housing Choice Voucher rental assistance in Alcona, Alger, Allegan, Alpena, Antrim ,Arenac, Baraga, Barry, Benzie, Berrien, Branch, Calhoun, Cass, Charlevoix, Cheboygan, Chippewa, Clinton, Crawford, Delta, Dickinson, Emmet ,Gladwin ,Gogebic, Grand Traverse ,Gratiot, Hilldale, Houghton, Ionia, Iosco, Iron, Isabella, Kalkaska, Keweenaw, Lake, Leelanau, Lenawee, Livingston, Luce, Mackinac, Manistee, Marquette, Mason, Mecosta, Menominee, Missaukee, Montcalm, Montmorency, Newaygo, Oceana, Ogemaw, Ontonagon, Osceola, Oscoda, Otsego, Presque Isle, Roscommon, Schoolcraft, Shiawassee, St. Joseph, Van Buren and Wexford County, Michigan. Escrow funds cannot be advanced to cover the yearly premium. It also has to be inspected by an independent inspector that you choose and pay. Call Community Housing Network,Monday through Friday from 9:00 amto4:00 pm. FY2023 Payment Standards Housing Choice Voucher Program Effective January 1, 2023 75247 1056 1111 1309 1650 2156 2479 2803 3126 3450 3773 75248 1606 1683 1991 2508 3267 3757 4247 4737 5227 5717 75249 1826 1925 2266 2860 3729 4288 4848 5407 5966 6526. Kemmis said MSHDA currently leads the nation in the number of EHV issued and families assisted. Available for credit scores as low as 640. You can also check with your local housing authority to see if you can use your voucher for homeownership. As long as the modifications you need are reasonable, landlords must allow them. Awarding 440 Project-Based Vouchers (PBV) to eighteen multi-family developments that will serve supportive housing populations. | Greater Lansing Association of REALTORS, Your California Privacy Rights/Privacy Policy. To apply during the opening period, applicants were required to complete the online application. LvPU? Lets take a closer look at some of the MSHDA offerings and how they may be able to connect hopeful buyers to homeownership opportunities. If you have a disability, the program may also help pay the cost of repairs or improvement to make the home more accessible. The MI Home Loan is for first-time home buyers (and repeat buyers in targeted areas) with low to moderate incomes. The MSHDA is also the entity charged with administering federal housing programs in Michigan. According to its website, MSHDA provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues., Simply put in its mission statement, MSHDA partners to provide homes and preserve places for the people of Michigan.. offers mortgage programs for both first-time home buyers and repeat buyers. A homebuyer typically has to come up with 20% or more of the sale price of the home as a down payment on the mortgage. Its a zero-interest, non-amortizing loan and there are no monthly payments, he said. We will contact your supervisor to confirm that you are authorized to have this role. Owning your own home might seem like an impossible dream, or you may own your home and worry about losing it in both cases, there are programs that can help you with homeownership: A mortgage is the type of loan used to buy a house or other real estate. Tip: If you have a disability and need more time to find a place, try asking for extra time as a reasonable accommodation. There is no notice of when this waiting list will reopen. Ask your PHA to help you in any way they can. To further understand how rents are determined and subsidy payment are calculated, go here . USDA loans are issued by the U.S. Department of Agriculture through the USDA Rural Development Guaranteed Housing Loan Program. The home has to be your primary residence. The MSHDA programs have helped many hopeful buyers realize their dream of homeownership, but like any financial decision, its important to work with an experienced, local lender to make sure its the right choice for you. The average voucher holder has received housing benefits for 7 years and 2 months. Applicants who need help completing the application due to disability can make a reasonable accommodation request to the housing authority via (248) 435-5650. All loans under the . %%EOF MSHDA provides a variety of products to help buyers achieve and afford homeownership. MSHDA COVID-19 response plan The COVID-19 pandemic has impacted Michigan residents in many ways. That means that if you owned a home but lost it more than three years ago in the housing crash, you may be able to get a fresh start under these programs. Household assets cannot exceed $20,000, the maximum home sales price allowed is $224,500, the borrowers gross monthly income cant exceed 45 percent, and all collections must be paid. Author: Susan Kuegel Created Date: 10/26/2020 9:03:39 AM . Sources: This information was verified by the MSHDA on June 14, 2022. You'll need to pay a $400 fee for the MCC, and your lender might charge an additional $100 on. They look at things like: For example, if you have a disability and need a live-in aide or overnight support staff, you may be able to get an apartment with a larger number of bedrooms. The Key to Own Homeownership Program helps families with a rental housing choice voucher change it into a homeownership voucher. Another benefit is that some federally funded IDA programs allow you to save up money without having to worry about asset limits for programs like Supplemental Security Income (SSI). If you haven't owned a home in the last three years, you can qualify as a. . Section 8 Project-Based Voucher tenants are required to live in a specific apartment community or scattered site. Discover ways to save up money while working. Wayne Lacy, branch manager with Cherry Creek Mortgage Company, says a big misconception about DPA programs in general is that they are essentially free money, but he explains that with many programs, MSHDA included, thats not the case. When evaluating offers, please review the financial institutions Terms and Conditions. It is important to have a lender and a realtor who know how the Section 8 Homeownership Program works in your area, who have relationships with the local staff who handle the program, and who understand the paperwork. Reach out to a few local providers to not only ensure you are receiving accurate information, but that youre also comfortable with who you are working with. For many hopeful homebuyers, the hurdle that stands between renting and owning is pulling together the down payment. 444 North Capitol Street NW, Suite 438 Washington, DC 20001 Our Nerdwallet contributors are experts in their field, who come from a range of backgrounds in journalism, finance, and consulting. P: 202-624-7710 The payment will be made directly to the landlord or utility provider in most cases, MSHDA said . You might not get Section 8 benefits if you or someone in your household has had one of these problems with a public housing authority in the past: If you dont qualify for Section 8 because of one of these problems and the problem was related to your disability, you can ask for an exception to this policy as a reasonable accommodation. To apply during the opening period,call the staff at Clawson Manor at (248) 435-5650, between the hours of 9:00 am to 4:00 pm,Monday through Friday, to schedule an appointment to determineeligibility for placement on the project-based voucher waiting list. Please find the payment standard charts for each bedroom size and zip code in the charts linked below. Please note: According to the MSHDA public notice, "You may qualify for rental assistance at Erin Park if your household income falls within the MSHDA allowable extremely low income for your family size, you meet program requirements and at least one of the following Supportive Housing Categories: Chronically Homeless: With a preference for Highly Vulnerable Prioritized Population". endstream endobj startxref If you are looking into this on your own, be careful about your lender and realtor. A big stipulation of the MSHDA DPA program is that all adults occupying the residence must co-apply and qualify for the loan, including adult children, unless they are verifiable, full-time students. hN@_xTRR qhU2T=YX This is not the Section 8 Housing Choice Voucher program. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 5 Tips for Finding the Best Mortgage Lender, Homebuying Process: 15 Steps to Buying a House, Get more smart money moves straight to your inbox. Approval for the 2022-2023 fiscal year supports the five-year PHA plan adopted January 1, 2019. Sources: This information was verified by the MSHDA public notice on April 5, 2022. Landlords are not legally required to accept Section 8 vouchers and may turn you down if you want to use vouchers. %PDF-1.5 % %PDF-1.6 % 74% of all households were headed by a female. | Visit Website Make sure to get a contract of sale and give a copy of it to the housing authority. There are limits on sales price, income and overall debt-to-income ratio. Ask a question about work and benefits. Awarding 462 Tenant-Protection Vouchers by HUD to assist eligible families affected by Housing Conversion Actions in Bay, Kalamazoo, Lapeer, Oakland, and Wayne Counties. And if you have a disability or are elderly, there is no time limit; you keep getting Section 8 homeownership support for as long as you need it. The housing voucher tenant must pay 30 percent of its monthly adjusted gross income for rent and utilities, and if the unit rent is greater than the payment standard, the tenant is required to pay the additional amount. Ask a Michigan Benefit-to-Work (B2W) Coach your questions about work and benefits. Income limits vary, depending on household size and property location, and the maximum sales price is $224,500. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down. Here are some other voucher programs that work similarly: With Section 8, you pay about 30% to 40% of your monthly household income for rent in privately-owned housing, while the government pays the rest. For instance, with the Flex program, you dont need to be a first-time homebuyer, and you can exclude members of the household from the mortgage. This waiting list is for Section 8 Project-Based Voucher rental assistance in Dexter, Michigan. 24% of households had wages as a major source of income, 2% of households had welfare (TANF, General Assistance or Public Assistance) as their primary source of income, and 65% of households had other income (Social Security, Disability or Pension) as their major source of income. Access to affordable housing is a key pillar of financial security, and the Michigan State Housing Development Authority (MSHDA) has a vision of making Michigan a place where all people have quality affordable housing as a foundation to reach their full potential.. %PDF-1.6 % All Bedroom Sizes. (" You or your supervisor must tell us if you should no longer have this role. This is called a project-based voucher. After you have lived in the specific unit for a year, you can ask to get help with your rent in another privately-owned unit and from then on, the voucher rules are exactly the same as any other Section 8 housing choice voucher. Although there is no official minimum credit score, most VA-approved lenders require scores of at least 640. As long as your income and family situations dont change much, you can get Section 8 homeownership support for 10 to 15 years. The Michigan State Housing Development Authority (MSHDA) Section 8 Project-Based Voucher waiting list for 2 and 3-Bedroomapartments at Erin Park is currently closed.