Provides an opportunity for income-eligible families and individuals to build their own new homes.
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Self-Help Homes - Provo
Description:
Provides a program for income eligible families and individuals to build new homes. Families are grouped together to help each other build their own homes.
Eligibility:
The family's income must be at or below 80% of the area median income (AMI) (see website for a table with income guidelines) AND the family must earn a minimum income of around $35,000 - $37,000 per year. The family's credit score must be 640 or higher. The family's debt-to-income ratio cannot exceed 41%, including future house payment. The family cannot own another house. The family must be willing to work at least 35 hours per week on all the houses within their group, half of which must be completed by the people on the mortgage and the other half can be completed by family and friends of the people on the mortgage.
Service Hours:
M - Th 7 am - 5:30 pm
Intake Procedure:
A pre-application must be filled out. These can be obtained online or in the office. An appointment must be made to submit and review the pre-application.
Fees:
$500 is needed upfront for a down payment. $300 is needed upfront to pay for hand tools and a credit report. Mortgages and interest rates are determined by income and the closing rate.
Counties Served:
Description:
Provides a program for income-eligible families and individuals to build new homes. Families are grouped together to help each other build their own homes.
Eligibility:
The family's income must be at or below 80% of the area median income (AMI) (see website for a table with income guidelines) AND the family must earn a minimum income of around $35,000 - $37,000 per year. The family's credit score must be 640 or higher. The family's debt-to-income ratio cannot exceed 41%, including future house payment. The family cannot own another house. The family must be willing to work at least 35 hours per week on all the houses within their group, half of which must be completed by the people on the mortgage and the other half can be completed by family and friends of the people on the mortgage.
Service Hours:
M - Th 7 am - 5:30 pm
Intake Procedure:
A pre-application must be filled out. These can be obtained online or in the office. An appointment must be made to submit and review the pre-application.
Fees:
$750 is needed upfront for a down payment. About $150 is needed to pay for hand tools and credit report. Mortgages adn interest rates are determined by income and the closing rate.
Counties Served:
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State of Utah
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State of Utah