I have received a lot of messages asking about the housing program we are doing. So I just want to post so that everyone can read what its all about... Its called Team homebuilding through Housing Hope. The only qualifications are: at least a monthly income of 2,800 (before taxes) and your credit score has to be 640 or better. There is a cap on income but it varies depending on family size. You can do it single or married. Even if you are married or in a significant relationship and only one person qualifies you can add the other person onto the loan later... This is a program that is available to anybody, people of all different backgrounds and life style choices; even if you dont have the best of credit, but you can show that you have been working at cleaning it up, they can work with you to see if you qualify or tell you what you need to do. Thats pretty much the only qualifications. Not quite sure about a criminal history, but you can always call Tanya at Housing Hope and ask her and she is also a credit counselor. How the program works: you are going to apply and qualify for a USDA loan, so you are literally buying your house; but you put in sweat equity, meaning, instead of putting a down payment down, you will work it off. 10 families go into it together and all 10 families help each other build all the houses. We do have a foreman on the job, but between him, our volunteers and us, we build all the houses (except some sub contractors, which apply with housing hope). Not one of us can move in until they are all built. So, you are required to put in 30 hours a week. That can be all you, you and your partner or you and your volunteers. but you have to invest 30 hours a week. The build can last anywhere from 10-18 months, so its definitely a commitment. The benefits to this program are: low interest rates and affordable, environmentally savvy homes. If you are on the lower part of the income bracket, you will be subsidized and pay a low mortgage, its different for everybody but an example is about $900. If you have two incomes going into it, like Jake and I we will probably pay the maximum, but from what Im told is still a very affordable rate (like maybe $1300.?).Thats it, I think I covered it all, but if you have any questions, feel free to ask me or call Tanya to apply and let them know I referred you, cuz you get money for referring people (haha). Housing Hopes number: 425-347-6556. Oh and btw, we are building in Snohomish now, but they are in the process of looking for new property.
Posted on: Sun, 30 Mar 2014 19:11:06 +0000
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