Family SelfSufficiency Program

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Oklahoma Housing Finance Agency (OHFA) 100
Northwest 63rd, Suite 200 Oklahoma City, OK
73116 Family Self-Sufficiency (FSS) Program
Section 8 Homeownership Program Deborah
Jenkins, Team Leader John Pettis, Rental
Assistance Team Manager Kathy Crittenden,
FSS/Homeownership Specialist Ryland Moore,
FSS/Homeownership Specialist
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Family Self-Sufficiency is

• Established by the Department of Housing and
  Urban Development
• Designed to promote independence
• Voluntary 5 year program.

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Family Self Sufficiency is

• Although voluntary
• Does require active participation
• Commitment and
• A winning attitude.

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Who Can Apply?

• Anyone receiving rental assistance through OHFAs
  Housing Choice Voucher Program may apply for the
  FSS program.
• Elderly and disabled are not prohibited from
  participation.
• However, if you are unable to work at this time
  this will not prohibit your participation.
• If you believe you can succeed you can.

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Attitude Your state of mind about a person or
situation
The greatest discovery of my generation is that
human beings can alter their lives by altering
their attitudes of mind.

William James You cannot tailor make your
situation in life, but you can tailor make your
attitudes to fit those situations.

Zig Ziglar
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• The Program Is Also Designed to
• Assist in Identifying and Enhancing
• Personal Goals
• Financial Goals
• Educational goals
• Credit repair

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The Family Self-Sufficiency Program is designed
to

• Promote employment
• Increase savings
• Accumulate assets

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• Unlike others receiving Section 8 participants
  you can receive
• A refund of some or all of your rent increase if
  you comply with the program
• Other supportive services.

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Some Of the Services Available To You Will
Include

• Adult basic education/GED
• Higher education
• Homeownership
• Credit Counseling

• Childcare
• Transportation
• Personal and career counseling
• Job training and placement
• Life skills
• Soft skills training

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• The FSS program does not provide financial
  assistance for the needed services other than the
  monthly Housing Assistance Payment (HAP).

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Reasons to Participate in the FSS Program
Access to Services
Accumulation of Assets
SATISFACTION WITH SELF
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Steps to FSS Participation
Sometimes its ok to take two steps at a time
just stay focused
One step at a time or.
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Steps to FSS Participation

• Complete FSS application
• Attend information meeting
• Interview will be conducted between FSS
  Coordinator and Applicant
• Contract completed
• 5. Plan of Action prepared, and
• 6. Begin program activities.

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LENGTH OF PARTICIPATION

• Participants have up to five years to reach
  Self-Sufficiency.
• Participants can receive an additional two (2)
  years if requested in writing prior to the end of
  contract and if approved.

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Establishing Your Goals

• You will set goals you plan to reach within the
  next five years.
• What kind of job would you like to have five
  years from now?
• What steps will you take to reach this goal?

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Do You Want to Save Money?

• Become employed
• Remain employed
• Report income changes as required
• Remain independent of state assistance (TANF
  Check) one consecutive year prior to end of 5
  year contract.

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Interim Disbursements

• OHFA may permit you to withdraw funds from the
  FSS escrow account before completing the contract
  if the family has completed certain interim goals
  and need funds to complete the contract
• School Cost tuition and books fees
• Repair cost to auto to maintain employment
• Cost to purchase a vehicle to obtain employment
• Credit repair to clear up credit blemishes to
  become mortgage ready

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Escrow

• OHFA will set up an escrow account in your name.
• The escrow or savings account may provide money
  for you if you successfully complete the program.
• The amount of escrow is based on the increase in
  your earned income.

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How Much Will I Earn?

• The amount going into the account at the
  beginning is always zero for everyone.
• Nothing goes into the account until your income
  from employment increases.

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Success Stories

• Completed GED requirements
• Maintaining employment
• Purchased a home
• Maintained same employment
• for nine years
• Completed requirements for Child Development
  Certificate of Mastery
• Completed requirements for RN License
• Completed Associate and Bachelors Degrees.

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Completion of the Contract Occurs when

• The family has fulfilled all of its
  responsibilities, including family goals or
• The family goes over income before the five
  years and
• Family members certify with proper documentation
  that no family members has received cash
  Assistance (TANF) for 12 consecutive months prior
  to the end of Contract of Participation.

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Income Limits Effect Escrow

• If you go over the very low income limits, the
  amount of escrow is reduced.
• If your Total Tenant Payment (TTP) equals the
  Payment Standard, no further escrow payment will
  be acquired
• If you go over the low income limit, no further
  escrow payment will be made.

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Questions?
Questions
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Oklahoma Housing Finance Agency (OHFA)
Section 8 Homeownership Program
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It is possible to own your own home!
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Homeownership Program Facts

• Participating with Housing Choice Voucher
  program
• First time homebuyer
• Eligible to participate in OHFA programs
• One year satisfactory rental payment history

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Homeownership Program Facts

• Annual income of 14,500 (30 hours per week,
  7.25 per hour
• Disabled or Elderly with a minimum annual income
  of 8,040 per year
• Other requirements may apply

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Financing

• OHFA will assist the homeownership participant in
  selecting a lender and realtor.
• Homeownership participant is required to obtain
  all financing.
• OHFA will make referrals to assist in downpayment
  and closing cost.

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Financing

• Financing must be provided, insured or guaranteed
  by the State or Federal government
• Comply with secondary mortgage market
  underwriting
• Comply with generally accepted private sector
  underwriting standards

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Financing

• Homeownership participant required to pay at
  least 3 percent down
• At least 1 percent must come from participants
  own personal resources
• Lease Purchase agreements are acceptable
• All Lease Purchase agreements must be approved by
  OHFA

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Maximum Term of Assistance

• 15 years from the beginning of homeownership
  payments if mortgage has a term of 20 years or
  longer
• In all other cases, the maximum time will be 10
  years
• 10-15 year limitations do not apply to elderly or
  disabled
• Time is cumulative regardless of number of homes
  or jurisdictions.

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Questions
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An Opportunity for Success is Open to You

• Every person who has achieved any worthwhile
  success, has had to experience and overcome many
  challenges.
• There is no short cut to success

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Please dont give up. Develop the Ill
succeed attitude and you will succeed.
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P U S H

• Persist
• Until
• Something
• Happens

You can succeed if you will persist, persevere,
be determined, stick with it, refuse to go away,
refuse to give up, be diligent