Homeownership Program

Picked from Waiting List, first come, first served (Immediate FSS graduates are exempt from Waiting List).

Homeownership orientation to understand the program and complete the application package.

Participants must enroll and complete the mandatory Fiscal, Homeownership & Wellness Education (Money Smart & Homeownership Workshop).

Meet with a financial and credit counselor to review and repair credit as well as obtain financial credit score. Must work on getting a median credit score of at least 630 or above, which is currently approved by most lenders.

With a credit score above 630, the participant completes a mortgage pre-approval application to a lender of their choice to determine qualification. The Lender will provide a mortgage pre-approval letter which states how much money the bank is able to loan to the participant/mortgage applicant. The lender will also provide a closing cost estimate which will detail the cost associated with obtaining the mortgage. The assistance amount will be determined using the closing cost estimate provided by the Lender plus income and family composition as verified by HAKC.

North of the River
Kansas City, Parkville, Gladstone, North Kansas City, Liberty, Lake Weatherby, Platte Woods, Lake Waukomis, Pleasant Valley, Glenaire, Claycomo, Randolph, and Birmingham.

South of the River
Kansas City, Sugar Creek, Independence, Blue Springs, Raytown, Lee’s Summit, Grandview, Blue Summit, Lake Tapawingo, and Lake Lotawana.

HAKC Homeownership Program will review the buyer’s offer before it is submitted to the seller. Upon review of the offer, the participant will receive the Homeownership Approval Letter for the selected property stating how the mortgage will be paid.

• HAKC receives Sales Agreement and Seller Certification Form. The home may not be approved if HAKC is informed by HUD that the seller is debarred, suspended, or has a pending hold. HAKC may also deny approval due to any inaccurate information or any reason determined as misleading the program participant.

The property MUST have 2 inspections (1) A complete home inspection by an independent licensed professional paid by the participant. (2) Housing Quality Standard (HQS) inspection provided by HAKC at no cost. Items cited as “Poor” or “Fail” must be repaired by the owner and “Pass” prior to closing. Homeownership participants should not pay for any necessary repairs that may be uncovered upon inspection. The home will not have any future or annual inspections after closing.

The participant makes an offer to purchase a home with a sales agreement. Once the sales agreement is fully executed, i.e., signed by both the participant and the seller(s), the closing date is set. HAKC uses the same rental voucher program payment standard to determine the amount of subsidy in homeownership.

HAKC homeownership staff, realtor, and participant meet at the assigned settlement and title office for closing. The participant will sign the final documentation to purchase their property and receive the keys to their new home. The closing company will provide the participant with a settlement statement, also known as a Closing Disclosure or CD. Please remember to bring photo identification, such as a driver’s license to the closing, and you must use a cashier’s check to pay your portion of the settlement cost. Cash, money orders, and personal checks are NOT accepted. It is the buyer’s responsibility to have all utilities put in their name as of the date of closing.

The law provides a limit on the amount of time a family may receive assistance under the HCV homeownership option. There is no time limit for an elderly or disabled family. For all other families, there is a mandatory term limit of 15 years if the initial mortgage incurred to finance the 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.