Habitat for Humanity of the Eastern Bighorns Homeownership Program

What is Habitat for Humanity of the Eastern Bighorns Homeownership Program?

Habitat for Humanity of the Eastern Bighorns Homeownership Program is down payment assistance for homebuyers in Sheridan, Wyoming, administered by Habitat for Humanity of the Eastern Bighorns.

• Habitat for Humanity of the Eastern Bighorns builds simple, decent homes sold at no profit to partner families in the Sheridan area, financed with a no-interest Habitat mortgage and a minimal $3,500 down payment. Applicants must demonstrate housing need, willingness to partner (completing 200-400 sweat equity hours based on family size plus required homeownership workshops), and ability to pay. Income must fall between 30% and 80% of median income and within HUD limits for Sheridan County.
• 0% interest mortgage.
• Low $3,500 down payment.
• Home sold at no profit.
• Sweat equity builds ownership.
• Required homeownership workshops.
• Funding comes from Volunteer labor, donations of money and materials, homeowner mortgage payments.

Do you have to pay it back?

Habitat for Humanity of the Eastern Bighorns Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of the Eastern Bighorns.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Habitat for Humanity of the Eastern Bighorns Homeownership Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Habitat for Humanity of the Eastern Bighorns Homeownership Program sets its income limit as follows: Serves families and individuals between 30% and 80% of median income; income must fall within HUD income limits for Sheridan County, WY.

• 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?

Habitat for Humanity of the Eastern Bighorns Homeownership Program caps the purchase price as follows: Homes sold to partner families at no profit.

• Eligible property types include Single Family.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Habitat for Humanity of the Eastern Bighorns Homeownership Program serves buyers purchasing in Sheridan, Wyoming.

How do you apply?

Applications for Habitat for Humanity of the Eastern Bighorns Homeownership Program go through Habitat for Humanity of the Eastern Bighorns, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat Eastern Bighorns Homeownership Preparation Workshops.

2. 2

   Contact Habitat for Humanity of the Eastern Bighorns to reserve funds

   Funds are reserved through Open application cycle; information session required before application, and are subject to availability.

3. 3

   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.