This lovely community of houses is nestled amongst a development of owner-occupied homes in a subdivision on the east side of Republic, Missouri, off of Highway 60 and Farm Road 93. These 12 homes were built in and have been rented since the fall of 2001.
The rent for these homes is $535 per month. The security deposit is $600.
These houses will be for sale in 2017. If you are living in the house when it goes up for sale, you will have the first option to purchase it. Every year that you live in the house, you earn a discount toward the future purchase of the home. If a family lived in the home from the day it was built until 2017, they could receive a 45% discount off the market value of the home. Even if they do not live in the home this entire period of time, they will still receive a discount based on the number of years in
Income qualifications are determined by the number of people occupying your household. This includes minors and any person who will be residing with you at least 6 months out of the year. Your household’s projected income must be at or below the average median income in your county which is calculated by HUD on an annual basis. Please note that wages, public assistance, Social Security benefits, child support and any income from assets is calculated as income.
You are not however required to stay under the income limit to qualify to rent the home. At annual recertification (lease renewal) your income will be recalculated but will not have any effect on your qualification status. The goal of this Low Income Housing Tax Credit Program is to help you keep your rent at an affordable rate allowing you to reach your family’s goals of home ownership, zero debt, credit repair or whatever your goals may be. Please contact us with any questions regarding income calculations.