Page 297 - CityofArlingtonFY26AdoptedBudget

Build Unity

Goal 1: Implement Strategies to Eliminate Racism and Other
Forms of Discrimination and to Advance Unity in Arlington
Objective 2: Address Housing Disparities
Project Performance Measure(s) Department(s)
BU Mortgage Readiness Number of voucher-assisted families Housing
1.2.2 who become mortgage-ready
Summary:

Homeownership is a crucial step toward building wealth YTD Mortgage Ready Households
for families. The Housing Choice Voucher program 10
allows assisted households to use their voucher
assistance for homeownership. Housing partners with
the Housing Channel and other organizations to help
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families prepare for homeownership. Housing
Channel’s metrics for homeownership include a credit
score of 640 or higher, savings of at least $5,000, and
living within a balanced household budget. -
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Housing’s goal is to assist 8 voucher-assisted households Goal Actual
become mortgage ready in FY 2025.

Update: Mortgage Ready HCV Households
rd
During the 3 Quarter of FY 2025, 30 of our Housing
4
Choice Voucher participants reached out expressing
interest in homeownership. A total of two (2) of our 3
interested HCV participants became mortgage ready.
2
1

-
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Goal Actual

3