Hillcrest Estates in Altoona and Villa Diann in Eau Claire now have two new programs to help people become homeowners. The first is a new in-house financing program that is easy and quick to apply. The second is Home Ownership Made Easy (H.O.M.E.) that let you rent a home and help you save for downpayment and repair credit. These programs will make homeownership easier and more affordable.
Home Ownership Made Easy (H.O.M.E)
Do you have challenges qualifying for home financing because you:
- Do not have enough down payment right now
- Need more time to fix your credit or more income seasoning
How It Works
Phase 1: Rent Concession Period
- Lease your new home for 12 months
- Put down a security deposit equal to 5% of the purchase price of your home
- Earn monthly credits toward your down payment each month you pay your rent
- In 12 months you will accrue 5% credit towards your down payment
- At the end of your lease, you will have a total of 10% available for your down payment
- Also, you will have time to work on your credit or other items such as income seasoning
Phase 2: Purchase Your Home
- Apply for financing with 10% (or more) down payment with one of our affiliated lenders (or in-house financing - coming soon)
- Enjoy your new home with the benefits of being a homeowner, not renter!
- Improve or redesign your home without landlord permissions
- No pet fees
- Build equity in your home
We have also started an in-house financing program. We removed many red tapes that other lenders have to make it easier for you to become a homeowner.
- Fast and Easy Application Process
- No minimum credit score - If your credit has some blemishes, we may still lend based on your income and down payment
- Down Payment as Low a 5%
- Lower monthly payment than the HOME program
- Enjoy the benefits of ownership right away
Which Program Should I Apply to?
While in-house financing works better for most of people, the answer really depends on your individual situation. Please contact us to take the next step.
The HOME program and in-house financing is exclusive to Hillcrest Estates and Villa Diann MHCs Not all homes are eligible for the HOME program