The CORE Destination Homeownership program provides Financial Literacy and Homeownership Education and Counseling to INLIVIAN residents. This program serves families who live within one of our INLIVIAN property’s or have a housing choice voucher.
Destination Homeownership is staffed with Certified Housing Counselors who will assist you in developing a housing plan to assist you with your journey of Homeownership or Fair Market Rental.
To start the process, and determine your eligibility for the program, email us at homeowner@inlivian.com
All interested participants are required to attend the mandatory Destination Homeownership Information Session. An email inquiry should be sent to homeowner@inlivian.com, and a registration link will be provided for the next available session.
In a working-abled household, the head of household will need to be employed full-time for two years without interruption. The minimum earned income will need to be at least $25,000 yearly. If the household is designated elderly or disabled, the minimum income is equal to the current SSI payment multiplied by 12.
You do not have to have perfect credit to begin the program, however you will need a minimum of 620 credit score to enter the program. There may be exceptions depending on number of tradelines and/or derogatory accounts. If you have credit barriers, your housing counselor will provide you with guidance to improve your score.
Yes. Ideally, down payment and closing costs are approximately 20% of the purchase price. You may qualify for down payment assistance programs if you meet its requirements. When you apply for a mortgage loan, the lender will apply for any available funds on your behalf. INLIVIAN requires that individuals have at least $1500 in savings before referring participants to a mortgage lender.
Hard work + Dedication = Homeownership! The length of time that this process takes depends on you. Your housing counselor will provide you with an action plan based on your individual situation to assist you on your journey to homeownership. Once you are mortgage-ready, you will be provided with INLIVIAN’s preferred lender/realtor list to begin the process.
Mortgage-ready individuals have a minimum credit score of 640, required savings, and steady and stable income.
You should provide this information to your housing counselor. All lenders and realtors must attend a training provided by INLIVIAN prior to placement on our approval list used by our participants.
Other facts to consider for Housing Choice Voucher holders:
Note: Eligibility to participate in the Destination Homeownership Program does not guarantee the applicant will qualify to buy a home. The head of household must independently obtain a mortgage prequalification letter from an INLIVIAN-approved mortgage lender. The prequalification letter will include the price of the home that can be purchased and provides the applicant the opportunity to work with a real estate agent to start the home buying process.
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