YMHA also offers several home purchase programs in which residents may participate.
Resident Empowered to Achieve the Choice of Homeownership (REACH)
The REACH program consists of: The REACH First Step Pre-Homeownership and the REACH Land Contract program.
The REACH First Step Pre-Homeownership program is open to all Public Housing residents who qualify to be housed in the homeownership single- family homes located at Rockford Village. Participants are required to enroll in educational programs geared towards homeownership as well as participate in the Family Self Sufficiency (FSS) program. Participants set attainable goals such as earning their G.E.D. diploma, attending college or vocational training institutions and finding employment. As income increases, a portion of the rent is placed in an escrow account and upon successful completion of the FSS program, the funds are released to participants to use towards down payment and /or closing costs of a home of their choice.
The REACH Land Contract program allows Public Housing residents to enter into a land contract homeownership agreement with YMHA for new or acquired homes throughout Mahoning County. The goal is to assist participants to become “mortgage-ready” within five years, enabling them to purchase the home they live in. An escrow account is established which could be used towards down payment and closing costs. Residents are required to participate in additional workshops or other educational courses.
Housing Choice Voucher (HCV) Homeownership Program
This HCV homeownership program provides mortgage assistance to Housing Choice Voucher (HCV) participants who meet program requirements. The minimum, annual household income for disabled families is $9,252 and $14,500 for non-disabled families who must be employed in addition to meeting the income requirements. Participants are required to complete first time homebuyer workshops and pre/post –purchase counseling services. Please note that income requirements are adjusted to reflect current federal government guidelines.
YMHA partners with e-Home America to provide an online first time homebuyer education. This is a self-paced learning that can be completed in a day or more. Individuals who are unable to complete first-time homebuyer education classes may find this service to be helpful. A fee is charged for e-home classes. Upon successful completion of all required modules, a Certificate of Completion is emailed to client.
Please click here for details. https://www.ehomeamerica.org/