Program began in March 1993 Buyers must meet adjusted income limits Family of 4 Very Low Income...
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Transcript of Program began in March 1993 Buyers must meet adjusted income limits Family of 4 Very Low Income...
![Page 1: Program began in March 1993 Buyers must meet adjusted income limits Family of 4 Very Low Income $22,000 Family of 4 Low Income $35,200 (HUD Guidelines)](https://reader035.fdocuments.net/reader035/viewer/2022062306/5a4d1b367f8b9ab05999d08a/html5/thumbnails/1.jpg)
Program began in March 1993
Buyers must meet adjusted income limits
Family of 4 Very Low Income $22,000 Family of 4 Low Income $35,200 (HUD Guidelines)
Have good credit
Be approved for a USDA loan CPLC assists family to qualify for the loan
Attend the Housing Counseling Workshops
CHICANOS POR LA CAUSANogales Self-Help
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How Does It Work?65% of the construction must be completed by the families (This is considered “Sweat Equity”).
CPLC provides the technical assistance for the construction of the homes
35% of the Construction is done by Registered Contractors
Loan is under USDA (3 Bedroom home loan is approximately $ 74,000).
Time of construction is 3.8 weeks per house.
Mortgage Payment is approximately $ 472 per month.
Other Subsidies include: Self-Help Ownership Program & Affordable Housing Program
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2002-2003 2004-2005 2006-2007 2008-2009
History of Last Seven Years (2 year funding cycles)
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Program develops positive community impact
Teaches maintenance and repair skills
Method for families to gain and retain assets
Program develops pride, security and family stability
The Results
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