City partnership makes low-income home ownership a possibility

3 months 3 weeks 4 days ago Tuesday, January 23 2018 Jan 23, 2018 Tuesday, January 23, 2018 3:59:00 PM CST January 23, 2018 in News
By: Nnamdi Egwuonwu, KOMU 8 Reporter
loading

COLUMBIA - Want to own a home? A new partnership looks to make that a possibility.

The City of Columbia Community Development Program, the Columbia Community Land Trust and Veterans United Home Loans will come together in an effort to increase low-income housing options for residents.

"This represents another opportunity for us to reach even more people to get them prepared for home ownership," said Housing Programs Supervisor Randy Cole.

According to a news release, the federally-funded Community Development Department will continue providing "home buyer education" and down-payment assistance. The programs have been around for about ten years.

To qualify, participants must make 80 percent below the median income; A family of two must make less than $47,600 a year to take part in the program. They would also have to meet a credit score requirement and satisfy loan requirements.

Cole said the credit requirement often discourages potential participants from applying. He said by partnering with Veteran's United to provide credit counseling and other financial education courses, some of that stress can go away.

"We can help those who still have credit issues get those worked out, and get them on a good footing to have successful home ownership," he said.

The Veterans United's Lighthouse program will provide financial education classes. Cole said he hopes the classes will offer the knowledge needed for participants to strengthen their credit portfolios.

The CCLT "creates and preserves" affordable housing. The energy-efficient homes are equipped with solar panels, additional insulation, garages and use durable construction material.

Jerry Dowell, the board president for Columbia Community Land Trust, said some of the participants will have access to the organizations newly-built homes.

"We expect that by April all four of the homes will be sold," he said. "In some instances these houses we have are going to be cheaper than a rental house."

Applications can be found on the city's website.

More News

Grid
List
FULTON - All 6-year-old Sam Santhuff wanted to do was comfort children in the hospital, even though he was there... More >>
7 hours ago Sunday, May 20 2018 May 20, 2018 Sunday, May 20, 2018 6:47:00 AM CDT May 20, 2018 in News
KINGDOM CITY- The Fire Fighters Memorial Foundation of Missouri will honor three firefighters who died in the line of duty.... More >>
18 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 7:53:00 PM CDT May 19, 2018 in News
CAMDEN COUNTY - The Missouri State Highway Patrol has released the identities of the three people killed and the two... More >>
19 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 6:42:00 PM CDT May 19, 2018 in News
COLUMBIA - Children in Columbia have a chance to get paid to play. Columbia Parks and Recreation started its... More >>
20 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 6:10:00 PM CDT May 19, 2018 in News
HAVANA (AP) — The Latest on the crash in Cuba of a passenger jet with 113 people on board (all... More >>
20 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 5:23:00 PM CDT May 19, 2018 in News
COLUMBIA - Over 90 people showed up at the Burr Oak Brewery for an afternoon of puppies, yoga and beer... More >>
21 hours ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 4:50:00 PM CDT May 19, 2018 in News
COLUMBIA - Although it is nowhere near Halloween, some Columbia runners faced their fears by participating in a zombie-themed 5K... More >>
1 day ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 11:12:00 AM CDT May 19, 2018 in News
COLUMBIA- The city of Columbia has been ranked a top-ten affordable college town to live in by realtor.com. Factors... More >>
1 day ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 10:41:00 AM CDT May 19, 2018 in News
ST. LOUIS (AP) — The Mississippi River is above flood stage at several northeast Missouri locations, but forecasters do... More >>
1 day ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 9:29:44 AM CDT May 19, 2018 in Continuous News
(CNN) -- And they're married! Britain's Prince Harry and US actress Meghan Markle were wed Saturday at Windsor... More >>
1 day ago Saturday, May 19 2018 May 19, 2018 Saturday, May 19, 2018 7:09:00 AM CDT May 19, 2018 in News
COLUMBIA- The United states is experiencing one of the lowest birth rates in 30 years, according to the Centers for... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 9:08:00 PM CDT May 18, 2018 in News
COLUMBIA - Attorney General Josh Hawley says attorneys helping Gov. Eric Greitens through impeachment proceedings are acting improperly. "By... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 8:34:00 PM CDT May 18, 2018 in News
JEFFERSON CITY - The annual Backyard Concert Series kicks off Saturday evening at the Jefferson Landing Historic site. Missouri... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 6:45:00 PM CDT May 18, 2018 in News
JEFFERSON CITY –Missourians will soon be able to keep a little more money from their paychecks, after a state House... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 6:33:00 PM CDT May 18, 2018 in News
MADISON (AP) — A Columbia man will likely spend the rest of his life in prison for a shooting death... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:40:00 PM CDT May 18, 2018 in News
WARSAW (AP) — Authorities say the police chief of a western Missouri town was wounded after a 16-year-old boy shot... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:24:00 PM CDT May 18, 2018 in News
JEFFERSON CITY (AP) — Missouri's Republican-led Legislature approved tax cuts for both individuals and corporations Friday and sent a gas-tax... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:18:00 PM CDT May 18, 2018 in News
COLUMBIA - Local veterans return home from combat having experienced things average citizens could not even imagine. Douglas Wilbur,... More >>
1 day ago Friday, May 18 2018 May 18, 2018 Friday, May 18, 2018 4:17:00 PM CDT May 18, 2018 in News
Columbia, MO
Broken Clouds 76°
3pm 79°
4pm 80°
5pm 80°
6pm 77°