Crossville Chronicle, Crossville, TN

Area News

July 8, 2013

Funding helps program offer New Beginnings to families

With budget cuts looming, the Crossville Housing Authority feared that its New Beginnings Self-Help Housing Program would not continue for another month without additional funding. The staff is now breathing a sigh of relief after receiving news that it was named the recipient of a $503,200 grant from USDA Rural Development. The grant will help New Beginnings continue its mission and complete 19 new homes.

"In this economic environment when every public dollar is being scrutinized, we were very excited about the funding for our fourth self-help housing grant," said Marley Wyatt, New Beginnings program coordinator. "With these funds, New Beginnings will be able to continue its mission of providing working families the opportunity to realize the American dream of homeownership."

New Beginnings is designed to provide working individuals and families with low incomes with the opportunity to build their own homes. They are allowed to choose from a variety of lots and from a selection of three-bedroom, two-bath floor plans to meet their needs. An essential part of the program centers around the homeowners providing some of their own labor, which cuts down on construction costs and helps build up equity during the construction process.

To be eligible for the program, homeowners must meet income and credit requirements, have stable employment, not currently own a home and be willing to put in at least 500 hours of sweat equity into the home. Prior to construction, homeowners must also attend an eight to 10-hour homebuyer education course.

Since 2005, land in what is known today as the Southview and Eastview subdivisions has been purchased and developed by CHA specifically for the New Beginnings program. The Southview subdivision contains 29 homes, and Eastview will contain 56 homes upon completion.

The homes are financed with a 33-year fixed-rate mortgage. With a subsidized interest rate, rates can be as low as one percent for some borrowers. Large down payments are not required, and all closing costs are included in the loan amount. Payments can potentially be the same amount as current rent prices or even lower, depending on income.

According to Don Alexander, CHA executive director, most of the people taking part in the program are young families making an average of $23,374. Thanks to the program, these families can afford new homes, with an average mortgage payment of $502.76 (including principal, interest, taxes and insurance).

"We have provided, since 2005, 66 new homes, with the average loan of $113,327 with an average appraisal price of $143,270, putting $30,000 equity for every single person that is on this program," he said. "That has put $9.03 million [of property value] on the county tax roll, and total equity of homeownership is almost $2 million."

Jerry Jolley, area director for USDA Rural Development, one of the partner agencies involved with the program, thanked everyone for "making the self-housing program a flagship for everyone else to follow." He mentioned that more than 153,000 families across the nation were able to own homes last year thanks to self-help housing programs like New Beginnings.

"Seeing clients have a home of their own with an affordable mortgage is a great reward of my job," said Wyatt. "New Beginnings is a group effort. The hard work from all who are involved – from the office to the construction site – is what produces the amazing results.

“It is an honor and privilege for me to work with such wonderful people as USDA Rural Development, our clients, our construction crew and our sub-contractors," she concluded.

1
Text Only
Area News
  • rendezvous.jpg TSRA starts spring off with paddling trips

    About 150 members of the Tennessee Scenic Rivers Association (TSRA) recently gathered April 2-6 in Crossville at Camp Nakanawa for the Annual TWRA Rendezvous.

    April 19, 2014 1 Photo

  • Panel recommends using third-party billing for old EMS bills

    The budget committee approved hiring the same third party billing company to help go through older EMS ambulance service bills to resubmit them to help the EMS department get caught up with billing collections.

    April 19, 2014

  • Sales tax collections down

    Cumberland County Finance Director Nathan Brock reported to the Cumberland County Budget Committee that local option sales tax collections have fallen below budgeted projections for the 2013-'14 fiscal year.

    April 19, 2014

  • Motion to toss evidence in burglary denied

    A defense motion to have evidence seized by deputies searching for a man who fled warrant service thrown out failed when deputies testified they had oral permission from the defendant's son to search the residence the father and son share.

    April 18, 2014

  • donate life.jpg Organ donation gives man new lease on life

    Travis Hodges has a new lease on life, thanks to a selfless gift a young father made the year before.

    April 18, 2014 1 Photo

  • Fireworks, sign change get council OK

    While the April Crossville City Council meeting was generally a calm one, there were some fireworks on the agenda.

    April 18, 2014

  • quackers at the library.jpg Spring jamboree

    April 17, 2014 1 Photo

  • Suspect charged in Sportsman Club break-in

    A Crossville man has been arrested and charged in connection with the burglary of a shooting club's building in the county that occurred last week, according to arrest reports.

    April 17, 2014

  • Panel discusses auditing hotel/motel tax collections

    Commissioners on the budget committee discussed the possibility of auditing hotels and motels in the county regarding the collection of hotel/motel tax collection figures being down.

    April 17, 2014

  • Repent burglar must serve time

    Some defendants cry, because they get caught, and others are tearful with remorse. No one in the courtroom doubted Robert Killeen's sincerity when he apologized to his victim, his loved ones and supporters for committing crimes against an elderly widow, stealing the money her late husband left her.

    April 17, 2014

Marketplace Marquee
Parade
Must Read
Section Teases
Seasonal Content
AP Video
Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Raw: Church Tries for Record With Chalk Jesus Raw: Faithful Celebrate Good Friday Worldwide Deadly Avalanche Sweeps Slopes of Mount Everest
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Weather Radar
2014 Readers' Choice