Longview Housing Authority (LHA), Lower Columbia Community Action Council (CAP) and the City of Longview (using HOME Funds) are partnering together to assist low-income families in obtaining homeownership counseling, down payment and closing cost assistance, and help in purchasing and rehabilitating existing housing stock. Families participating in the program will also be investing their own time and labor in rehabilitating their homes, thus encouraging an on-going commitment to maintaining their homes and investing in their community.
Participation in the SHARE Home-ownership Program is voluntary and each participant must meet the following eligibility requirements:
- Down Payment: At a minimum, the participant is required to provide $750 as a down payment which must come from the family's personal resources (i.e. savings, IDA account, or FSS Escrow).
- First-time Homeowner: A "first-time homeowner" means that no member of the household has had an ownership interest in any residence during the three years preceding commencement of homeownership assistance. However, a single parent or displaced homemaker who, while married, owned a home with a spouse (or resided in a home owned by a spouse) is considered a "first-time homeowner."
- Low-Income Family: Homeowners are required to verify that their income meets low-income limits as set forth by Housing of Urban Development (HUD) (80% of Median Income).
- Purchase a Home in Longview: All homes must be located in the Longview (Washington) City limits.
- Time Commitment of Two Building Partners: Each family must have two building partners that will commit to meeting the weekly building requirements. A minimum of 30 hours per family will be required per week (with the two partners required to contribute a minimum of 15 hour per week and friends, family, or others contributing the balance).
What to Expect When Becoming a Participant with SHARE
When you become a participant in the SHARE Homeownership Program, you can expect:
- Assistance in choosing a home that will be a good match for your family.
- Comprehensive counseling and referral programs that help with budgeting, financing, and buying a home, along with post-purchase issues.
- Increased Buying Power to purchase a home.
- Referrals to pre-approved lenders and available funds to help with down payment and closing costs.
- Supervision in rehabilitating your home.
Contact the Longview Housing Authority for more information on this program.