APPLICATION PART 1
First Story is a 501(c)(3) public non-profit organization. Our mission is to promote giving and inspire communities through the creation of homeownership opportunities and financial support.
What is the Home Buyer Program? First Story partners with Hayden Homes to construct and/or renovate single-family homes in Oregon, Washington and Idaho. Homes are then sold to qualified applicants through a 30-year, zero interest loan and zero down payment.
Who is Eligible for the Program? You may qualify if: Your total gross Median Family Income (MFI) before taxes is at or below 80% of area median income (see attached chart for current requirements). Your monthly gross income meets the minimum amount required to pay a monthly principal, insurance and tax payment. Minimum income requirement varies based on the home’s sale price, but typically it is $2,500 per month. You currently have no negative credit accounts or items in Collections. You currently live in the area where the home is being built. You are a U.S. citizen or have permanent resident alien status. Your household size does not exceed 5 family members (this is due to the size of our homes).
How Does the Application Process Work? 1. Complete Application Part 1 o Attach previous year of Income Tax Returns, including all schedules and pages o Attach a recent credit report. Free credit report available at www.annualcreditreport.com 2. First Story Evaluates Eligibility 3. Receive & Complete Application Part 2 4. First Story Conducts Interview 5. Selection & Notification
Next Steps Complete Application Part 1 Mail, fax or email completed Application Part 1 to:
First Story 963 SW Simpson, Suite 110 Bend, OR 97702
Email:[email protected] Fax: 541-728-0836
This application is not a guarantee of an interview or selection for housing.
application part 1 MEDIAN FAMILY INCOME (MFI) INFORMATION To be apply for a First Story home, your total gross Median Family Income (MFI) before taxes must be at or below 80% of area median income.
2016-2017 AREA INCOME LIMITS (per HUD) Effective Date: June 1, 2015 First Story Home Owner Applicants must have Median Family Income (MFI) at or below 80%
80% of MFI based on Household Size. All numbers based on HUD Area Median Income (AMI) Limits. COUNTY HUD MFI 1 Person 2 Person 3 Person 4 Person 5 Person $ $ $ $ $ $ Ada County, ID 61,300 33,800 38,600 43,450 48,250 52,150
$ $ $ $ $ $ Benton County, WA 70,300 39,400 45,000 50,650 56,250 60,750
$ $ $ $ $ $ Canyon County, ID 61,300 33,800 38,600 43,450 48,250 52,150
$ $ $ $ $ $ Deschutes County, OR 59,400 33,250 38,000 42,750 47,500 51,300
$ $ $ $ $ $ Franklin County, WA 70,300 39,400 45,000 50,650 56,250 60,750
$ $ $ $ $ $ Grant County, WA 56,900 32,450 37,050 41,700 46,300 50,050
$ $ $ $ $ $ Linn County, OR 56,200 31,500 36,000 40,500 44,950 48,550
$ $ $ $ $ $ Spokane County, WA 64,500 36,150 41,300 46,450 51,600 55,750
application part 1 APPLICA NT INFORMATION
Full Name List all family members who will be living in the home. List the Relationship Age relationship of each family member to the Head of Household. Household size cannot not exceed 5 family members.
Head of Household
Co-Applicant (ie: Spouse)
Son/Daughter/Other
Son/Daughter/Other
Son/Daughter/Other
Mailing Address City State Zip Cell Home Phone Phone Email
EMPLOYMENT INFORMATION Applicant’s Hire Job Title Employer Date Supervisor’s Supervisor’s Phone Name Number
Co-Applicant’s Hire Job Title Employer Date Supervisor’s Supervisor’s Phone Name Number
Applicant’s Statement: I/We certify that the information given on this application is accurate and complete to the best of my/our knowledge and belief.
Signature of Head of Household: ______Date:______
Signature of Co-applicant: ______Date: ______
application part 1 BUDGET WORKSHEET
EXPENSES DEBT Category Monthly Cost Monthly Total Category $ Cost Balance Alimony Car Payment $ $ $ Cable/Satellite Insurance (Auto, $ $ $ Cell Phone Life, &/or Health Credit Card #1 $ $ Child Activities (School Sports, $ After School Programs) Credit Card #2 $ $ $ Child Care Credit Card #3 $ $ $ Child Support Personal Loan $ $ $ Clothing/Personal Items Student Loan $ $ $ Club Dues (Gym Membership) Medical Loan/Bills $ $ $ Dining Out TOTAL DEBT $ $ $ Education (College Tuition) (add lines above) $ Gas/Diesel INCOME $ Gifts (Birthdays, Holidays) Category Monthly Income $ Groceries $ GROSS Applicant Wages $ Hobbies/Recreation $ GROSS Co-Applicant Wages $ Home Phone $ Alimony $ Internet Service $ Child Support $ Prescriptions $ Food Stamps $ Pet Care $ Social Security $ Vacation/Travel $ Other: $ Rent Payment TOTAL MONTHLY INCOME $ Utilities (Gas, Electric, Water, $ (add lines above) Garbage) $ Other: SAVINGS TOTAL EXPENSES Category Total Balance $ (add lines above) $ Savings Account $ Checking Account **Please attach the previous year Income Tax $ Return and a recent Credit Report to your Other: application. TOTAL SAVINGS $ (add lines above) application part 1 application part 1