Great news for low-income families in Zellwood, Florida! Homes in Partnership, a local non-profit, recently broke ground on the latest phase of their affordable housing community, Holly Creek.
Here’s the breakdown:
- New Homes: This phase adds 29 homes to the existing 62, bringing the total to 91 affordable residences in Zellwood.
- Affordable Prices: Homes will be priced around $250,000, made possible through USDA loans. Monthly mortgages, including taxes and insurance, will be $1,200 or less – a significant savings compared to the Orlando area’s median sales price of $472,500.
- Income Eligibility: These homes are designed for very-low and low-income families. According to HUD guidelines, a family of four in Orlando qualifies as very-low income at $43,900 and low-income at $70,200.
More Than Just Affordable Housing:
- Sweat Equity: The USDA loan program offers lower interest rates and reduced costs in exchange for the homebuyer’s participation in construction.
- Homebuyer Support: Homes in Partnership provides HUD-certified counselors to guide families through the entire homebuying process, including financial literacy training and post-purchase support.
Looking Ahead:
Homes in Partnership has plans to build even more affordable housing this year, with projects planned for Owen’s Landing in Umatilla and Christian Preserve in Leesburg.
This is a great example of how non-profit organizations are working to address the growing need for affordable housing in Florida.