Programs offer important housing opportunities

Keeping track of the progress on a two-story home at 404 E. Third in McCook are, from left, Randy Korgan, a banker who is a member of the Housing Task Force; Mary Seybold, Housing Director; and Tim Martin of Mr. Honeydo, the firm doing rehabilitation work on the home.Within the next month or two, the house will be ready for new owners. The vintage residence is the latest to be remodeled as part of McCook's Purchase-Rehab-Resell program. (Courtesy photo) [Click to enlarge]

If you'd like to buy a home in 2009, there's a good chance McCook's Housing Director can help you find a comfortable house at a cost lower than you expected.

Sound too good to be true? It shouldn't, because programs to benefit homebuyers in McCook continued in 2008 through a housing grant to the McCook Economic Development Corp.

One program alone -- Down Payment Assistance -- resulted in checks for $3,000 being written to a dozen McCookites for house purchases. That means 36,000 new dollars are circulating in McCook. And, even more important, it means the down payment checks helped prevent 12 McCook homes from becoming vacant.

Mary Seybold, who took over as director of McCook's housing program in 2007, is a real estate broker and salesperson who returned to this area from Spokane, Wash. She is excited and enthusiastic about the opportunities available to McCook homebuyers.

"For those who fall within the income guidelines, and many McCook people do, there are three programs that all potential homebuyers need to check out," Seybold said.

The programs are: Purchase, Rehab, Resell; Down Payment Assistance; and a program which made its debut in 2009: The Employer Assisted Housing Down Payment Program. This is a $7,500 grant to McCook workers, provided by Employers and the McCook Economic Development Corp. Employees who take advantage of the program don't have to make payments, and the entire grant of $7,500 is forgivable after five years.

There are annual income limitations for all the programs, but they are not nearly as severe as most people think. For example, a couple with four children can earn up to $60,100 a year and still qualify for most of the housing programs. One person alone can earn up to $36,000 a year and still get help, while a family of four can earn up to $51,800 and qualify for the housing grants.

One home buying opportunity which McCook families need to check out is Purchase, Rehab, Resell. The program can work in two ways. One, the McCook Economic Development Corp. can buy a house, fix it up and sell it to a single person or a family who fits within the income guidelines and is a first-time homebuyer.

Second, an individual or family buying their first home can spot a house they would like to fix up, get in touch with the housing director and negotiate a price to be paid by the homebuyer after the house is rehabilitated.

The Purchase, Rehab, Resell program is a good deal for first time home buyers because they receive $3,000 in down payment assistance in addition to having their home updated.

To qualify for the assistance, first time home purchasers must do five things: 1. Take a Home Buyer Education Class; 2. Live in the home for five years; 3. Maintain the property in compliance with local ordinances. 4. Contribute $500 towards the transaction; and 5. Have the ability to get a loan from a mortgage lending institution.

One Purchase, Rehab, Resell sale home was completed in McCook in 2008. The home at 810 West Third Street was acquired by Scott Lafferty. The Purchase, Rehab, Resell funds paid for insulation, central air conditioning, new gutters and new windows.

Another house at 506 East Third Street is being rehabilitated and will be sold to the family of Kenny Owens, ShaLynn Jefferson and their son Marcus at the end of this month. The rehabbed home has all new windows, a new air conditioner, a new kitchen, an updated bathroom, a new electrical panel, new carpeting and lots of fresh paint.

Remodeling is now under way on the house at 404 East Third Street in preparation for selling the house after completion of the fix-up work. Interested purchasers are encouraged to contact the housing director. "If you like the house and want to buy it, you can pick out the colors for the walls and flooring," Seybold said.

To check out homebuying opportunities, all that's needed is for McCook families and singles to contact Mary Seybold. She may be reached by phone at 340-5316 or 345-1200, by e-mail at mary@mccookne.org or by stopping by the McCook Economic Development Corp. office on the second floor of the Morrison Building at the corner of Norris Avenue and C Street.

The good news for McCookites is that there is still a lot on money on the table, waiting to be claimed by home buyers.

Even though a dozen Down Payment Assistance checks for $3,000 have been given out, there are still six checks for $3,000 waiting to be applied for and granted.

There are also four more Purchase, Rehab, Resell opportunities available, but time is of the essence. That's because, if the PRR grant funds are not used this year, they could be lost to McCook.

Lastly, Red Willow County residents within the housing program income guidelines need to investigate the Employer Assisted Housing Down Payment program. That's the program which provides grants of $7,500 to workers, made possible by $2,500 contributions by Employers and $5,000 contributions from the McCook Economic Development Corp.

Opportunities abound for both homebuyers and the community. The reason is that when McCookites agree to take part in the housing programs, they are not only helping themselves and their families. They are helping the residential section of the community, improving homes which, in many cases, were built more than 50 years ago.

"It's a win-win situation," Seybold said. "Come see what's available. There's a good chance we can help you achieve your home buying dream."