SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing)

SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) is down payment assistance for homebuyers in Pocatello, Idaho, administered by Southeastern Idaho Community Action Agency, Inc. (SEICAA). SEICAA's Self-Help Housing program lets eligible first-time homebuyers build their own homes under a construction supervisor, contributing 50-100 hours of sweat equity that serves as the down payment. Participants may also qualify for additional subsidies, down-payment assistance and gap financing. Over 90 SE Idaho families have achieved homeownership through the program since 2004. Sweat equity (50-100 hours) counts as the down payment. May qualify for additional subsidies, DPA and gap financing. Build-your-own-home model with construction supervision. Homebuyer education included. Funding comes from Federal/state housing development funds administered by SEICAA (USDA Rural Development Section 523 Mutual Self-Help model; additional subsidies, DPA and gap financing).

SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) is down payment assistance and is repaid under the terms set by Southeastern Idaho Community Action Agency, Inc. (SEICAA). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 640. A homebuyer education course is required, through Online Homebuyer Education class (required). Residency requirement: Serves Southeastern Idaho, focus in Bannock, Oneida, Franklin and Caribou Counties. Participants provide 50-100 hours of labor (sweat equity) as the down payment. Income at/below 80% AMI; reasonable credit (no bankruptcy in 36 months, nothing in collections, score >=640); able to contract; adequate dependable income; complete online homebuyer education. Always accepting applications (waitlist).

SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) limits household income to 80% of the area median income, which varies by county and household size. At or below 80% of Area Median Income. 2022 Bannock County limits (current builds are in Bannock County): 1p $40,850; 2p $46,650; 3p $52,500; 4p $58,300; 5p $63,000; 6p $67,650. Limits for Oneida/Franklin/Caribou not posted. 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.

SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) serves homebuyers purchasing in Pocatello, Idaho.

Applications for SEICAA Self-Help Housing (with Down Payment Assistance & Gap Financing) go through Southeastern Idaho Community Action Agency, Inc. (SEICAA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.