In partnership with NeighborImpact, First Story is providing affordable homeownership opportunities in Sisters. Hayden Homes will build the homes in McKenzie Meadows, and First Story will sell them to qualified applicants through a 30-year, zero-interest loan with a zero down payment.
The program is again accepting applications after successfully dedicating three homes to families who applied and qualified for the program last year. For those families, home ownership seemed an impossible accomplishment, and First Story’s affordable homes in Sisters turned their dreams to reality.
“Today, in the midst of COVID-19, a home is so much more than a home,” said NeighborImpact’s HomeSource director Sonia Capece. “It’s safety, it’s stability, it’s academic success, it’s a place to work. Through this partnership with First Story, we can make that a reality for Central Oregon families who otherwise would not have the ability to take on a mortgage with a substantial down payment and interest.”
In order to qualify, interested home buyers must complete an intake and application and register in a Homebuyer Education Workshop through NeighborImpact’s HomeSource program as the first steps in the application process. This workshop will help applicants successfully navigate the homebuying process from start to finish.
The project’s homes will total 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.
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; and must be a U.S. citizen or have permanent resident alien status (required for the applicant only). Monthly gross income must meet the minimum amount required to pay a monthly principal, insurance, tax and HOA: gross income estimated between $3,769-$5,520 per month (or $45,228-$66,240 annually) depending on household size.
For more details about the application process and materials, please visit neighborimpact.org/first-story.
As an essential business providing essential services to disadvantaged individuals in Central Oregon, NeighborImpact will continue to serve all three counties and the Confederated Tribes of Warm Springs. Those needing assistance may access services via telephone and online or in person in Bend, Redmond and Madras.
