Acquisition/Infill Housing
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Download the Acquisition/Infill Housing Brochure (PDF)
Program Requirements
- Households wanting to remain within the City of Pocatello cannot exceed 50% Area Median Income as determined by HUD.
- Households in areas other than Pocatello 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 1250 to 1500 square feet. All units have 3 bedrooms and 1.5 bathrooms. Homes are energy efficient and feature Energy Star appliances. - 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 $5,000 toward closing costs and loan reduction, reduces home price.
History
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. Since the program launched, SEICAA has received many inquiries and demand for the program has promoted SEICAA to expand Acquisition/Infill Housing into rural areas outside of Pocatello. The primary difference between the program within the City of Pocatello and in other areas is the income qualification level.
2010 Income Guidelines
| 1 Person | 2 Person | 4 Person | 6 Person | |
|---|---|---|---|---|
| City of Pocatello | $19,500 | $22,250 | $27,800 | $32,250 |
| Bannock outside of Pocatello | $31,150 | $35,600 | $44,500 | $51,600 |
| Bear Lake | $28,500 | $32,550 | $40,700 | $47,200 |
| Bingham | $29,850 | $34,100 | $42,650 | $49,450 |
| Caribou | $31,100 | $35,500 | $44,400 | $51,500 |
| Franklin | $31,900 | $36,500 | $45,600 | $52,900 |
| Oneida | $28,500 | $32,550 | $40,700 | $47,200 |
| Power | $31,150 | $35,600 | $44,500 | $51,600 |
Application
Download Affordable Housing Pre-Application (PDF)
Contact:
Shalynn Peirsol
208-232-1114 x108
Mail Applications to:
641 N. 8th Ave.
Pocatello, ID 83201