Mutual Self Help Programs

Self Help Program

The Mutual Self Help Housing Program is a program funded by USDA – Rural Development administered at CDB by our skilled and trained staff whose goal is to provide assistance to very low income and low income families that do not have means or ability to secure housing through conventional financing or traditional methods because of their financial or seasonal employment situation. The Mutual Self-Help Program supports self-motivated, dedicated hard working families that will ultimately perform 65 percent of the construction labor in their new home. These families work as a group and help each other with the construction of their own homes under the super vision of experienced construction supervisors that are on site with the families when any construction work is being performed. The construction labor performed by the families creates a substantial reduction in labor cost, which in turn translates into a considerable amount in mortgage savings and creates a bond between the families that not only results in new homes being constructed but a neighborhood of families that have a strong bond and sense of community. The goal of the Mutual Self Help Housing Program is to provide very low and low-income families a viable path towards realizing the dream of owning a home through affordable and reasonable means.

Requirements:

1. Must be part of a very low to low-income household.
2. Must have established traditional or alternative credit in good standing.
3. Must be available to work on the weekends.
4. Be self-motivated and dedicated.

Key Benefits

1. The Mutual Self-Help Program provides families that are otherwise ineligible and financially unable to purchase their own home an affordable pathway towards home ownership.
2. Mortgage payments are based on the household income, which makes it easier for families to keep up with mortgage payments.
3. Start with home equity approximately 25% = to $20,000 to $30,000
4. Four different models up to 1402 square feet of living area and garage for 2 cars. 
   1. Tile Roof
   2. Ceramic Tile
5. No out of pocket closing cost
6. Interest rate as low as 1% annually
7. Gap Financing Assistance - base on individual case.
8. Payment Moratorium, maximum of two years (no payments, do not lose home)
9. Learn construction skills
10. Certified Energy Star Homes (energy efficient)

Pre - Qualification

If the Mutual Self-Help Housing Program can help your family achieve the dream of home ownership, please don’t hesitate to make a quick visit to our main Comite De Bien Estar office situated at 963 E "B" Street in San Luis, AZ 85349 where the BHRC is located. You can also contact our staff by calling us at (928) 627-8559 and request any additional information or ask any questions or concerns you may have. You and your family could be one step closer to realizing your dream of owning your own home simply by taking the time to reach out and get informed.

Down Payment Assistance, Gap Financing & Closing Cost Grants

1. Yuma County Home Consortium (YCHC)
   1. First time home buyer
   2. 30 to 80% of Median Income base on 2017 AZ Income Limits
   3. Minimum of 1 hour individual Pre-Purchase Counseling/File out Application
   4. Attend Homebuyer Educational Class in person
   5. Borrower contribution of $1,000.00
   6. Maximum ratios of 31/43
   7. First mortgage fix interest rate
   8. Minimum 15 years mortgage loan
   9. No balloon payments or Pre-payment penalty allow
   10. Approval from the BHRC and City of Yuma - Yuma County Home Consortium
   11. No cash back to borrower at closing
2. Home Start & Home Start Plus - FHLB
   1. First time home buyer
   2. 30 to 80% of Median Income base on 2017 AZ Income Limits
   3. Minimum of 1 hour individual Pre-purchase Counseling/File out Application
   4. Attend Homebuyer Educational Class in person
   5. Borrower contribution of $1,000.00
   6. Maximum ratios of 35/43
   7. First mortgage fix interest rate
   8. Minimum 15 years mortgage loan
   9. No balloon Payments or Pre-payment penalty allow
   10. No cash back to borrower at closing
3. WISH Program & Mortgage Loan
   
   1. Homebuyer(s) need to contribute $1 and it will be matched up to $3. Homebuyer contribution up to $5,000 and it will be matched up to $15,000 for each participating household. 
   2. Homebuyer has been enrolled by the participating member in the WISH Program
   3. Homebuyer has successfully completed a homebuyer counseling program
   4. Homebuyer is a first-time homebuyer, as defined by the Bank in its AHP Implementation Plan
   5. At the time of enrollment, in the WISH Program, homebuyer meets income eligibility guidelines as published by the Bank and is at or below 80% of the HUD area median income
   6. Homebuyer must open escrow on a home purchase transaction within one year of enrollment in the WISH Program
   7. Homebuyer contribution may include sweat equity
   8. Mortgage FICO 620

For appointment to see if you qualify for any of our programs, please call: (928) 627-8559 ext. 29

Documents

Bid Packet- Group 75

Program Flyer