Housing program moving forward
LOGAN, Dec 27, 2012 (The Logan Banner - McClatchy-Tribune Information Services via COMTEX) --
PRIDE's Single-Family Housing Program is in the final stages of purchasing two pieces of property to begin construction of at least three homes
PRIDE Housing Coordinator Donna Vickers is encouraging families to come in and apply for the program.
"The homes are going to the first families who become mortgage ready and we want to continue with this program and build more homes for Logan County families," said Vickers.
PRIDE will be building at least three new homes within Logan County to sale. Low to moderate income families residing in Logan County, falling within 80% of the area's median income and meeting credit requirements may be eligible for assistance. A credit score of at least 600 is required. Credit counseling is available for families needing to bring their score up.
According to Ms. Vickers, about 25 families have applied and several fall within the West Virginia Program Income Guidelines. These families will move to the next step in the process, which is pulling their credit report and checking their income to debt ratio.
PRIDE offers a $40,000 fully forgivable, zero percent interest second lien on the home and a program to help with up to $4,500 of the costs for buying a home. In addition, if a family saves earned income of $500-$4000, the program will match the savings. That can help with the down payment, closing costs or any expense related to moving into the home. The savings match is not limited to the housing program.
Every homebuyer who qualifies for the program has to take an eight-hour homebuyer education class provided by PRIDE.
The homes will be built in safe and sound neighborhoods. Each home will be 1,200 to 1,400 square feet, have three bedrooms and two baths. The houses will be energy efficient and built to EPA standards and codes. The lots will be under an acre, but sufficient to hold the home and provide a nice yard for the children to play in.
For more information, call Donna Vickers at 304-752-6868, ext. 382 or visit the office at 699 Stratton Street, Logan.
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