Eastern 8 to provide information about Self-Help Housing Program

Published 9:57 am Monday, December 1, 2014

Local nonprofit Eastern Eight Community Development Corp. will hold an information meeting at 11 a.m. Saturday to recruit potential participants for the launch of the USDA Rural Development Mutual Self-Help Housing Program.
In this program, income-eligible families keep housing costs down by providing their own labor in construction.
At the meeting, which will be held at the Eastern Eight offices at 214 E. Watauga Ave., program coordinator Josh McKinney will detail the program’s features and requirements. He will also take time to field and answer questions from the public.
This program will launch at Patriot Place, a new subdivision off Big Springs Road in the Happy Valley school district.
“I think there will be a lot of people who are interested in this program,” McKinney said. “For someone who has tried to buy a house but cannot afford the initial investment or a monthly mortgage, this is a great opportunity to achieve the dream of home ownership.”
The labor that qualified applicants provide, which must equal 65 percent of the labor necessary to build a home, enables families to get low interest rates from USDA Rural Development without a down payment.
Eastern Eight plans to begin construction on this project as soon as four families have closed on their loans.
To register for the meeting, call 423-232-2051 or email McKinney at JMcKinney@e8cdc.org.

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