Jackson Hole Community Housing Trust Homeownership Program

What is Jackson Hole Community Housing Trust Homeownership Program?

Jackson Hole Community Housing Trust Homeownership Program is down payment assistance for homebuyers in Jackson, Wyoming, administered by Jackson Hole Community Housing Trust.

• The Jackson Hole Community Housing Trust is a nonprofit housing developer that creates below-market ownership (and rental) opportunities for the Teton County workforce. Ownership homes are offered through a ranked, point-based weighted drawing to eligible households who are employed full-time locally, earn at or below 120% of Teton County AMI, and hold assets under $356,400. Buyers must complete a homebuyer education course and provide a minimum 3.5% down payment.
• Below-market homeownership in a high-cost market.
• Ranked point system rewards local residency and essential-service employment.
• Permanently affordable units.
• Homebuyer education support.
• Funding comes from Private donations, partnerships with local employers, and support from local government.

Do you have to pay it back?

Jackson Hole Community Housing Trust Homeownership Program is down payment assistance and is repaid under the terms set by Jackson Hole Community Housing Trust.

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

Who qualifies?

Jackson Hole Community Housing Trust Homeownership Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Jackson Hole Community Housing Trust Homeownership Program sets its income limit as follows: Household total annual income cannot exceed 120% of the median income for Teton County, WY (includes wages, salaries, and earnings of all working adults).

• 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?

Jackson Hole Community Housing Trust Homeownership Program caps the purchase price as follows: Below-market, affordable ownership units developed by the Trust.

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

Is there eligibility for specific groups?

Jackson Hole Community Housing Trust Homeownership Program names educators, law enforcement officers, firefighters, and healthcare workers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Jackson Hole Community Housing Trust Homeownership Program serves buyers purchasing in Jackson, Wyoming.

How do you apply?

Applications for Jackson Hole Community Housing Trust Homeownership Program go through Jackson Hole Community Housing Trust, 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 Self-paced online Homebuyer Education course ($75; 3-6 hours) required for one household member to enter the ownership weighted drawing.

2. 2

   Contact Jackson Hole Community Housing Trust to reserve funds

   Funds are reserved through Ranked, point-based system; homes offered via weighted drawing to highest-ranked eligible applicants, 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.