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- Households cannot exceed 80% Area Median Income.
- Must be able to legally enter into a contract.
- Homebuyers are required to complete a Homebuyers Education and Post-Purchase Education Course.
- Applicant cannot have had a Bankruptcy in the last 36 months.
- “Sweat Equity” as feasible.
- Must posses dependable income to cover financial obligations.
Top Reasons to Purchase an Acquisition Housing Home
- Own a New Home
Homes range from 1200 to 1400 square feet. Most homes have at least 3 bedrooms and 1.5 bathrooms. All homes receive Energy Star Certification.
- Become a “Smart Buyer”
SEICAA requires all participants to complete Homebuyers Essentials Training, including Pre– and Post-Purchase components. Homebuyers will have knowledge and skills needed to maintain homeownership.
- Affordable Monthly Payments
Mortgages have fixed interest rates for the life of the loan. Qualifying participants may receive gap financing and down payment assistance that SEICAA will assist in securing.
- “Sweat Equity”
Limited sweat equity, up to $2,500 toward closing costs and loan reduction, reduces home price.
In November 2007, SEICAA was approached by the City of Pocatello. The City needed help meeting their CDBG goal of providing homeownership opportunities to households at 50% Area Median Income. SEICAA signed a development agreement and started the Acquisition/Infill Housing Program. SEICAA expanded Acquisition/Infill Housing to now cover all southeast Idaho counties with available lots.
2013 Income Guidelines
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SEICAA: 208-232-1114 x157
Mail Applications to:
641 N. 8th Ave.
Pocatello, ID 83201