New Claypool Subdivision Looking For Homeowners
July 28, 2016 at 4:25 p.m.
CLAYPOOL - The streets and curbs are installed as well as the "plumbing." Now all Great Beginnings subdivision, on CR 700S, west of Claypool, needs are a few prospective homeowners.
"Two years ago I had 28 families interested in applications," said Bob Murphy, developer of the housing project. "Now they've all found places to live. We've had a few delays."
Great Beginnings subdivision is a federally subsidized project and low- to moderate-income individuals or families are eligible for mortgages.
No down payment is required and $15,000 in equity will be forgiven over five years thanks to the Federal Community Development Block Grant I fund.
The homes range in size from 1,150 square feet to 1,375 square feet.
"It's a heck of a deal," said Tim Kelty, Murphy's associate.
In unfunded subdivisions the prospective homeowner picks up costs of infrastructure installation. This grant allows infrastructure costs to be forgiven.
Eligible individuals will have an income of less than $24,400. A two-person family will have an income of less than $27,400; three-person family, less than $31,400; four-person, less than $34,900; five-person, less than $37,650; six-person, less than $40,450; seven-person, less than $43,250; and an eight-person family, less than $46,050.
Loan applications are being processed through Key Bank, although other financial institutions may accept the program.
An informational meeting has been scheduled for Tuesday at the fire station in Claypool on Section Street from 7 to 8:30 p.m.
For more information call R. P. Murphy and Associates, Larwill, 327-3400. [[In-content Ad]]
CLAYPOOL - The streets and curbs are installed as well as the "plumbing." Now all Great Beginnings subdivision, on CR 700S, west of Claypool, needs are a few prospective homeowners.
"Two years ago I had 28 families interested in applications," said Bob Murphy, developer of the housing project. "Now they've all found places to live. We've had a few delays."
Great Beginnings subdivision is a federally subsidized project and low- to moderate-income individuals or families are eligible for mortgages.
No down payment is required and $15,000 in equity will be forgiven over five years thanks to the Federal Community Development Block Grant I fund.
The homes range in size from 1,150 square feet to 1,375 square feet.
"It's a heck of a deal," said Tim Kelty, Murphy's associate.
In unfunded subdivisions the prospective homeowner picks up costs of infrastructure installation. This grant allows infrastructure costs to be forgiven.
Eligible individuals will have an income of less than $24,400. A two-person family will have an income of less than $27,400; three-person family, less than $31,400; four-person, less than $34,900; five-person, less than $37,650; six-person, less than $40,450; seven-person, less than $43,250; and an eight-person family, less than $46,050.
Loan applications are being processed through Key Bank, although other financial institutions may accept the program.
An informational meeting has been scheduled for Tuesday at the fire station in Claypool on Section Street from 7 to 8:30 p.m.
For more information call R. P. Murphy and Associates, Larwill, 327-3400. [[In-content Ad]]