First Story, a local nonprofit organization, is providing affordable homeownership opportunities in Sisters. Homes will be constructed in McKenzie Meadows by builder Hayden Homes and sold by First Story to qualified applicants through a 30-year, zero interest loan and zero down payment.
In order to qualify, interested homebuyers must take a Homebuyer Education Workshop through NeighborImpact’s HomeSource program as a first step in the application process. This workshop will help applicants successfully navigate the homebuying process from start to finish, and will lead them to the next step in applying for a First Story home.
The project’s homes will be 1,028 square feet with three bedrooms, two baths and a two-car garage. The homes include laminate flooring in a formal kitchen, dining and hallway; vinyl in the bathrooms and laundry and carpet in the bedrooms. Each home includes a fully fenced and landscaped yard. No custom or additional options are available.
In order to qualify, applicants must meet certain eligibility requirements, including but not limited to: total gross Median Family Income at or below 80 percent of area median income; must currently have no negative credit accounts or items in collections; must currently live or work in Sisters (preferred) or Deschutes County; must be a U.S. citizen or have permanent resident alien status (required for applicant only); monthly gross income meets the minimum amount required to pay a monthly principal, insurance, tax, HOA & utility payment: gross income estimated between $4,000-$5,100 per month (or $48,000 – $61,000 annually) depending on household size.
Those interested in applying should first complete NeighborImpact’s Homebuyer Education class and obtain a certificate of completion. Once completed, a full application can be submitted or mailed to HomeSource of NeighborImpact. For more details about the application process and materials, visit neighborimpact.org/first-story/.
NeighborImpact’s HomeSource is excited to be partnering with First Story to make homeownership a reality for Central Oregonian families who otherwise would not have the ability to take on a mortgage with a substantial down payment and interest. We encourage interested parties to submit their application by or before January 17.
