Eastern Eight Community Development Corporation is offering a new home assistance grant to veterans in Carter County.
Assistance endowments of $25,000 are available to six veterans in Carter County through the Home Depot Grant Foundation, which awarded $150,000 to Eastern Eight to distribute to Carter County veterans.
Eastern Eight Marketing Director Chuck Mason said four of the six grants are still available. Through the program, honorably discharged or active duty veterans, or their surviving spouse, can apply for $25,000 that will be applied to the cost of building a new home.
“For first-time homebuyers, it is a great program,” Mason said. “A family could get in a new home for less than what they are paying in rent. They are all Energy Star homes, so they could also see a tremendous savings in their utility bills.”
Mason said the homes will be built in the newest Eastern Eight development in Carter County, Patriot Place off Big Springs Road. The first phase of the subdivision has 19 lots and the planned second phase will have 31 lots.
To apply, veterans or their surviving spouse must complete an application and be income eligible for a grant. Eastern Eight will provide pre- and post-buying homebuyer education and will assist in selecting the building site and home plan. Applicants have to put in 300 hours of “sweat equity” to build the home.
Mason said if the program is successful in Carter County it will be expanded to other counties in the Eastern Eight district.
“When we can offer free money it is incredible,” he said.
He encouraged applicants to apply as soon as they could.
He said the program ends in November, and that he hoped that all the remaining grants would be assigned with the homes under way as quickly as possible.
To apply call the home ownership department at 232-2052 or apply online at www.e8cdc.org.