New program unlocks first home for single mom,grandparent in East Tennessee
Executive Director Kelsey Parks said TCAC is stepping in to build, at some point, a total of more than 20 affordable homes
KNOXVILLE, Tenn. (WVLT) - The Tennessee Housing Development Agency awarded the Tennessee Community’s Assistance Corporation $1 million to build customized homes in Union, Jefferson and Sevier County. The homes are targeted for families searching for affordable homes.
Executive Director Kelsey Parks said TCAC is stepping in to build, at some point, a total of more than 20 affordable homes for families that earn slightly more than $35,000 a year and have good standing credit.
“People were not able to move out of the rental stages and actually into homeownership, Parks said. “A lot of houses were just overpriced, or they were being outbid by people with cash.”
For the first time in 70-years, a Union County grandfather, will soon be walking into a home of his own after applying to the program. His daughter, who is a single mother, is moving next door. Julie Anderson told WVLT News her mother told her about the program and in less than a year she will walking into her first owned home.
“It means a lot. It’s a blessing. I’ve come a long way,” Anderson said. “I’m envisioning my children coming over and visiting and my grand baby coming over and running into the house.”
After purchasing the land and home valued at $200,000 dollars. Parents like Anderson will be paying as low as $700 for their monthly mortgage, which is far cheaper than what some are paying on rental properties.
The program also secures the home for families without the worry of paying more than market value or someone out bidding them on the sale.
You can learn more here.
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