AIRWAY HEIGHTS, Wash. — The First Story non-profit organization is partnering with builder Hayden Homes to help Spokane residents own a house.
Hayden Homes will construct the home in their Pillar Rock community, and it will be sold through First Story’s 30-year no-interest loan program.
“The zero down payment requirement as well as the fact that credit scores are not required as a determining factor, encourages many to apply that would normally be restricted due to these mortgage thresholds,” Claire Duncan, First Story's executive director, said. “First Story is a testament to the giving spirit of our community and the positive results that come when we work together on creative solutions.”
The Clearwater, a 1235 square feet house, will be available for residents to apply and has three bedrooms, two baths, and a two-car garage. The home comes with appliances, a washer and dryer, window blinds, and a landscaped yard.
The price of the house will be based on the U.S. Department of Housing and Urban Development (HUD) standards for affordability at 80% of the area's median income.
To be eligible to apply for the house applicants must meet the following requirements:
- Have a Gross Median Family Income (MFI) below 80% of the area median income.
- Not have any negative credit account or items in collections
- Be a U.S. citizen or have permanent resident alien status
- Live in the Spokane area
First Story has helped more than 10,000 families through new home construction and financial support. For more information about the house or to apply, visit the First Story website.