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270 West Pearl Avenue Unit #107
1- bedroom, 1- bathroom, approximately 700 square feet, range, refrigerator, dishwasher, and microwave, 1 pet allowed. Shared laundry facilities on the premise, and one permitted parking pass in the Town parking structure. Please scroll to the bottom of this listing to view all Covenants, Conditions & Restrictions (CC&Rs).
Sales Price: $266,987
Occupancy Requirement: One (1) or two (2) persons (to be eligible to enter the Weighted Drawing, household size is limited to one or two persons.)
Income Range - 80% to 120%
To be eligible to enter the drawing for this home, your households gross income (before taxes) must fit into the range listed below, and your household's net assets must not exceed the asset limit below:
Income limits to apply for this Affordable home:
One Person Household | $55,161 to $82,740 |
Two Person Household | $63,041 to $94,560 |
Asset Limit | $236,400 |
Deadline to Apply: Tuesday, April 2, 2019 by 4:00 p.m. No late or incomplete entries will be accepted.
Calculation of income:
Household income is based on the current income earned by all intended adult occupants of the Restricted Housing Unit at time of weighted drawing entry using the current household income to estimate an annual (12 month) income basis. Households must use their current income and may not make changes or adjustments during a drawing period.
Business income of a qualifying Household is calculated using an average of the last three (3) years of income on the business’ tax returns. A year to date profit and loss determination will also be used to calculate business income. If the business has not been operating for three (3) years, the Housing Department will average income over the time the business has been operating.
Eligibility Requirements:
Please note the policies in effect to enter any drawing. The Housing Department Intake Form must be filled out and submitted to enter this or any weighted drawing. If you have not submitted an Intake Form prior to the beginning of this drawing you will not be eligible to apply.
Proof of one-year full-time employment, a completed Lenders Qualification Worksheet with an up to date Credit Report (provided by a local lender, AnnualCreditReport.com, or CreditKarma.com), and a completed Home Buyer Education Class Certificate all must be attached to the Weighted Drawing Entry Sheet or on file with the Housing Department.
The Housing Department will keep your Lender's Qualification on file for one year. The Home Buyer Education Certificate is good indefinitely.
Please make sure the loan amount on your Lender's Qualification worksheet is for at least the purchase price minus your down payment of the home for which you are applying. You must be able to prove your ability to secure financing.
You may receive one additional entry into the drawing for every year of verified full-time employment (minimum of 1,560 hours) in Teton County with a maximum of 10 years/entries.
CSPs are an employee or volunteer of a Housing Authority approved community based institutional or non-profit organization on call 24 hours per day for public safety emergencies. Qualified CSPs may receive one additional entry with a maximum of two per household. See Housing Department staff for more information.
Example cost break down for a purchase price of $266,987:
3.5% down payment (required) | $9,345 |
Loan Amount | $257,642 |
Principal & Interest Payment (estimated 5%) | $1,383 |
Property Tax (estimate) | $127 |
Insurance (estimate) | $100 |
HOA Dues (estimate) | $170 |
Total Estimated Monthly Payment | $1,780 |
We recommend you speak to a local lender about all your financing options.
CC&Rs: