Community Housing Partners is hosting an information session regarding the Dora Highway Revitalization Project on Monday from 4 to 6 p.m. at the Hensel Eckman YMCA.
Part of the revitalization project includes the construction of six single-family detached homes valued at $115,000 to $125,000 each. The houses will be sold to local families at or below 80 percent of the median area income.
All six lots for construction have been secured and interested applicants can go to the session on Monday to review locations and determine eligibility for application.
CHP will provide down payment and closing cost assistance to the six families that purchase the homes, thus making homeownership affordable. The amount of assistance offered is dependent upon income. A qualified homebuyer with moderate income could receive down payment assistance that would reduce the total cost of the home to $70,000 while qualified applicants with higher incomes would receive less assistance.
“Most people dream of owning their own home; but some believe that dream is out of their reach,” said Terry Vaughn, CHP Home Ownership Specialist. “This program can make that dream a reality with the down payment and closing cost assistance available to qualified applicants. I encourage citizens interested in homeownership to attend this informational outreach at the Pulaski YMCA.”
Interested homebuyers should contact CHP and complete intake paperwork that assesses income, debt, and assets.
The homebuyers are required to have mortgage ready credit ratings and are required to complete mortgage education classes.