Own Your Own Home Expo 2007 in Branson
Mountain Country Homes of Hope
“Own Your Own Home Expo”
Monday, February 5, 2007
Doors open at 6:00 P.M.- Presentation begins at 6:30 P.M.
United Methodist Church- Hwy 76- Branson
(Next to the Veteran’s Memorial Museum)
Equal Housing Lenders
If you are a working, low-income resident of Taney or Stone County looking to own your own home, don’t miss the “Own Your Own Home Expo”. You will have a chance to visit with area representatives from several low-income home financing specialists:
- Mountain Country Homes of Hope
- USDA Rural Development
- Bank of America
- Allstar Home and Commercial Loans
- University of Missouri Extension
No reservations for the “Own Your Own Home Expo” are needed.
Refreshments will be served.
After the presentation, you will have time to visit with each representative.
Children are not invited to attend this function. Please make child care arrangements for the evening.
Mountain Country Homes of Hope (formerly Habitat for Humanity): A Christian-based, non-profit organization. Applicants must have minimum two year residency in Taney or Stone County, have worked at current job a minimum of 6 months, have approved credit with little or no debt, live in substandard or over-crowded conditions, must meet HUD low-income guidelines. Approved applicants partner with MCHH in sweat equity hours, homeowner classes, a $500.00 installment down payment, and receive a no interest loan on a 20 year mortgage.
Each applicant must bring a COPY of their 2005 W-2 Form to apply for a MCHH home.
Rural Development: Offers 33 year, fixed rate home loans with no down payment to low-income individuals and families. Applicants must have stable and dependable income, good credit, and a willingness and ability to pay any current debts plus mortgage payment. The current interest rate is 5.75%, but some low-income applicants may be eligible for subsidy, which could reduce their interest rate to as low as 1%.
Bank of America: Offers 100% financing with no PMI through their “Community Commitment” program. The program also offers: conventional financing, below market interest rates, available 30 year rate term, and no minimum credit score required. Borrowers can earn up to 80% of the county of residence’s median income. Manufactured housing accepted. $500.00 investment required from borrower’s own funds, but gifts for closing costs are acceptable. Bankruptcies need only be discharged for two years.
Allstar Home and Commercial Loans: Offers 100% financing on Conventional, FHA, MHDC and VA loans; some with all closing costs rolled into the loan. Allstar runs only one credit report, and can shop your loan with over 17 lending institutions to find the best program to fit your needs; some offering loans up to 50 years. The folks at Allstar will assist you in completing your loan application, and if you mention Mountain Country Homes of Hope, there will be no charge for your credit report.
University of Missouri Extension: The Home Buyer Education program designed to help consumers understand the home buying process, credit reports and screening methods, mortgage loan application procedures, and financial cost associated with home ownership. Consumer information is available on home maintenance and lawn and garden information at the Extension office 1-888-504-0443. Publications are available online at http://muextension.missouri.edu/xplor/. Free tax preparation is available at Volunteer Income Tax Assistance sites for low-moderate income families that qualify for the Earned Income Tax Credit at VITA sites in Stone and Taney counties.
For more information, contact the Homes of Hope office at: 417-335-2015
Mountain Country Habitat Disaffiliates with HFHI
LOCAL HABITAT AFFILIATE TO BECOME MOUNTAIN COUNTRY HOMES OF HOPE
Branson, MO- Mountain Country Habitat for Humanity, one of the most successful rural affiliates of Habitat for Humanity International for almost twenty years, has disaffiliated from Habitat International to become an independent, non-profit ministry now known as Mountain Country Homes of Hope, Inc. The affiliate’s board of directors, by unanimous decision, voted to withdraw its affiliate status effective November 1, 2006.
According to Board president, Jim Barber, “We certainly respect the work of Habitat International, but the Board felt that the Habitat corporation was broadening its mission to encompass issues that detracts from the principal on which Habitat for Humanity was originally founded. Habitat International is also standardizing affiliates across the board which we feel will hinder us in addressing the needs particular to our community. After long and serious deliberation, we chose to disaffiliate in order to continue to focus our attention on helping provide simple, decent, and affordable homes for local, low-income families.”
“This change presents an exciting opportunity for us to implement an even more directed program than before.” says Susan Martin, executive director of the ministry for 11 1/2 years. “There is a tremendous need for affordable housing for working, low-income families in Taney and Stone Counties. This area is growing so rapidly, that a plan must be in place that will enable members of our community, who are subsisting on hourly wages, to have access to affordable apartments or be able to buy an affordable home. We want to help address this concern.”
Mountain Country Homes of Hope will begin taking applications for homes in February 2007. Requirements to apply will not change. Applicants must have lived in Taney or Stone county for a minimum of two years, must meet HUD low-income guide lines for this area, have been at their current job for a minimum of six months, live in sub-standard or overcrowded housing, and be willing to help build their house and that of another approved family.
‘We completed our forty-fifth home in October, and plan on building at least two homes in 2007 with money raised locally,”says Fran Forman, board member and chair of the Family Selection committee. “Contrary to public perception, Habitat International did not support us at all financially. All of our funding comes from fund raising events, grants and community support. If someone locally sent money directly to Habitat International specifying that the funds be directed back to us, International took an automatic 10.4 percent recovery fee off the top before sending it back to us.”
The next fund raising event, to be held in February 07, will be an art auction at the Cobblestone Meeting Facility sponsored by the Tri-Lakes Board of Realtors and Golden Corral Family Restaurant. In addition to events and grants, Mountain Country Homes of Hope will continue to raise money through aluminum can collection, and their Warehouse Store located behind the Hollister police station.
“We take donations of new and gently used building materials, windows, doors, lighting fixtures, appliances and household items like dishes and knick-knacks,” says Martin. “Donating to and shopping at our warehouse store is a very positive situation. Perfectly good building or household items that have been updated or replaced can be donated to us which we, in turn, sell, and all the money goes toward building a home locally. It’s a wonderful opportunity for folks who can’t financially support us to still be able to contribute to our ministry. They can also help by collecting and saving aluminum cans. We have over fifty businesses that partner with us in this effort.”
Martin adds, “As a Habitat affiliate since 1987, and having built and/or refurbished over fifty homes in this area, we have certainly been a viable part of this community. However, by becoming solely a locally focused non-profit, our ministry now truly belongs to the citizens of Taney and Stone Counties.”
For more information on partnering, volunteering or making donations to Mountain Country Homes of Hope, visit their website at www.mchh.net or contact them at 417-335-2015.