Housing Works was proud to celebrate Joy Johnson's new home with her on May 1, 2008. Staff and community members were present for cake and well wishes.
HOMEOWNER AFTER 26 YEARS OF RENTING
Purchasing her own home after 26 years of renting, Joy Johnson is all grins. “Thank you so much. Thank you so much,” said Johnson to the staff at Housing Works on the morning of her closing.
Homeownership was made possible for Joy because of the Housing Choice Voucher HomeOwnership Option Program. Joy converted her Section 8 Rental Voucher to a Homeownership Voucher. Instead of paying a portion of her rent the voucher pays a portion of her mortgage. Joy also utilized the Rural Development Direct Loan where she qualified for a 1% subsidized mortgage rate.
After receiving another notice of rent increase from her landlord, Joy marched down to Housing Works and inquired about her options to purchase her own home. After meeting with the HomeOwnership Coordinator, Joy was determined to do what it took to purchase her own home.
Joy worked with the HomeOwnership Coordinator on her budget, completed the “Realizing the American Dream” homebuying class, and obtained her pre-approval with Rural Development. Joy stayed with her daughter and son-in-law while she saved over $1,000 to cover her loan closing costs.
“I’m 81 years old and I have a lot to live for,” said Johnson. She can now enjoy the security and peace of mind of homeownership.
