Affordable Homeownership Opportunities for 1st Time Homebuyers - Southern Maryland Headline News

Affordable Homeownership Opportunities for 1st Time Homebuyers

Southern Maryland Tri-County Community Action Committee, Inc. is accepting applications for the self-help housing home ownership program. Vacancies are available for the Hunting Creek Subdivision on Willows Road in Lexington Park, MD. Thirty duplex units will be available for homeownership built the self-help method for first time homebuyers.

Under the self-help housing program, which is funded by the USDA, Rural Development Services, families save money off the normal purchase price of the home by agreeing to do up to 65 percent of the work themselves, under the supervision of an experienced construction supervisor provided by SMTCCAC. The program also requires families to commit 30 to 40 hours per week toward building their home. Since families usually work their jobs during the day, work on the home will be done evening hours and on weekends. The building process will take approximately one year.

To be eligible, families must meet USDA, Rural Development Services income guidelines, have good credit, a low debt load, and be willing and able to perform the required labor. Minimum income requirement is approximately $27,000 per year. Interest rates as low as 1% for eligible borrowers.

If you are tired of renting and interested in becoming a homeowner, please call 301-475-5575, 301-870-3770, 410-535-1010 or 301-274-4474, ext. 210 or 262 or e-mail to request an application. This institution is an equal opportunity provider and employer.

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