McCook Economic Development Corporation announced at the 18th Annual McCook Home & Builders Show held at the Army Reserve building they were accepting applications for the second Purchase, Rehab, Resale house project in McCook.

This program targets first-time homebuyers in the City of McCook that meet certain income levels. First-time homebuyers will be required to complete a REACH approved homebuyer education class and qualify for a home loan from a local lender. Potential participants should complete an application and turn it into MEDC for consideration. Applications will be reviewed on a first-come, first served basis starting on February 15th.

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MEDC has identified a home and will close on the property the 29th of February, the rehab process will commence shortly thereafter. MEDC will resell the rehabbed home to a qualifing first-time homebuyer. MEDC will also provide $3,000 of downpayment assistance to the participants.

Applications were available at the McCook Home Show in the MEDC Housing Booth. You can pick up applications at the MEDC office at 301 Norris Avenue, Suite 200. You can also e-mail mailto mary@mccookne.org and request an application online or call 308-345-1200 for an application to be mailed to you. The mailing address is McCook Economic Development Corporation, PO Box 626, McCook, NE 69001.

Additional information that will be helpful in determining if you are eligible:

This program will serve those at or below 100 percent for HOME Very Low-income Limits x 2. Household size and income limits are: 1 person - $36,300; 2 person - $41,400; 3 person - $46,600; 4 person - $51,800; 5 person - $55,900. For larger households, the MEDC staff will assist you with the income levels.

If you have not owned a home in three years or have experienced a life change such as divorce or widowed you may qualify as a first-time homebuyer.

MEDC established the housing program through a capacity grant from the Department of Economic Development in 2001. Currently, MEDC provides quarterly Homebuyer Education classes and the next eight-hour class is scheduled for April 8th and 10th, 6-10 pm at McCook Community College.

Officials involved with the MEDC housing committee include Rex Nelson, Executive Director; Mary Seybold, Housing Development Director; Becky Dutcher; Colleen Grant; Val Kircher; Randy Korgan; Barb Ostrum.

For more information, contact Mary Seybold at McCook Economic Development Corporation, (308) 345-1200 or mary@mccookne.org.