Homes For Islanders Announces Future Plans

Justin Roche, Executive Director of Homes for Islanders, a non-profit organization, announced Homes for Islanders has entered into a contract to purchase land on Malcolm Street. Once developed there will be 20 lots for very-low to low income individuals and families on San Juan Island. The constructed homes will be equivalent to those currently in construction across from the elementary school just off Grover Street in Friday Harbor. Applicants who qualify for the loans will own the land without any resale restriction.

Homes for Islanders is a private non-profit corporation funded by the U.S. Department of Agriculture (through Rural Development) to assist limited income families interested in building their own homes. Homes for Islanders is currently planning to begin house construction in early 2016.

Homes for Islanders services are free to their clients and include:

• Formation of building groups who will be working on the construction of the homes
• Assistance in applying for a 502 Rural Housing Loan from Rural Development.
• Provision of fully serviced, builder ready lots.
• Three different model house plans.
• Building account management and construction budgeting.
• Instructions and training during every phase of the construction process.

This program is for people who cannot afford a down payment typically required to purchase a home and large monthly mortgage payments. Upon successful completion of the program, monthly loan payments will be based upon the applicant’s income level and are often less than their current monthly rent. Those who qualify and are accepted into the program will pay no money down, no out of pocket closing costs and make no mortgage payments during construction. The only costs for qualified applicants will be to pay for their credit report.

The program is called “mutual self-help construction” which means that the majority of labor to build each home is provided by the home owner. The applicant’s effort becomes an investment in the building process. Although much of the technical work is subcontracted out (i.e. plumbing, electrical & drywall), the applicant saves thousands of dollars by working on the construction of the homes in their building group. Self Help builders are ordinary people with an extraordinary desire for home ownership. This approach substantially reduces the costs of construction and essentially provides the down payment and builds sweat equity for the homeowner.

Pre-Applications are now available for people desiring this opportunity. If you are interested in this program and want to build your own home you may request a pre-application form to determine your eligibility from Homes for Islanders by telephoning 370-5944 or visiting the Homes for Islanders website at www.homesforislanders.org to acquire a pre-application.

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