Definition of Home
"Home" is defined as a single-family residence, condo or townhome affixed to a permanent foundation in City limits which does
not exceed 95% of the area median purchase price.
Requirements
- Affordable debt to income ratios
- Asset limit less than $10K
- Environmental Review Request approval
- Existing house must meet minimum housing code requirements
- Invest a minimum of $500 towards the purchase
- Pre-purchase homebuyer education (PDF) (minimum of 8 hours required)
- Qualify for loan through a Participating Lender
- Steady employment or fixed income