NeighborWorks Pocatello USDA Mutual Self-Help Housing Program

What is NeighborWorks Pocatello USDA Mutual Self-Help Housing Program?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program is down payment assistance for homebuyers in American Falls, Idaho, administered by Pocatello Neighborhood Housing Services dba NeighborWorks Pocatello.

• NeighborWorks Pocatello, awarded a USDA Section 523 Mutual Self-Help Housing Technical Assistance Grant, helps low- and very-low-income families achieve homeownership through sweat equity by building their own homes together under professional supervision in American Falls, Idaho. The affiliate seeks six families to build homes as a group, with all families working on all six homes and no one moves in until every home is finished. This is distinct from NeighborWorks Pocatello's down payment/closing-cost assistance loan.
• Sweat equity replaces cash down payment.
• USDA-subsidized financing.
• Build-your-own-home model.
• Targets families shut out of conventional loans.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from USDA Rural Development Section 523 Mutual Self-Help Housing Technical Assistance Grant.

Do you have to pay it back?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program is down payment assistance and is repaid under the terms set by Pocatello Neighborhood Housing Services dba NeighborWorks Pocatello.

• Repayment is triggered by USDA Section 502 mortgage payments (financing obtained separately through USDA Rural Development).
• The assistance is recorded in First position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program sets its income limit as follows: Low- and very-low-income families; income limits based on household size per USDA Rural Development guidelines for the area.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

NeighborWorks Pocatello USDA Mutual Self-Help Housing Program is a federal program, so it is not limited to Idaho.

How do you apply?

Applications for NeighborWorks Pocatello USDA Mutual Self-Help Housing Program go through Pocatello Neighborhood Housing Services dba NeighborWorks Pocatello, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Pocatello Neighborhood Housing Services dba NeighborWorks Pocatello to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.