Ten homebuyers in Baldwin and Eudora are going to benefit from a Kansas Housing Resources Corporation Allocation. The money will be used to build three homes and buy two existing homes in each community. Tenants to Homeowners will build the three in Baldwin, valued at $175,000. The money from Housing Resources, will be used as subsidies that will reduce loan amounts for the first time home buyers. The homes will be sold to people who earn less than the area’s median income, but are able to secure a home loan, the subsidies will reduce the amount of their home loans by $40,000 each. The idea is to get the monthly loan payment down to a level the buyers can afford—specifically to 30% or less of their monthly income.
The new homes in Baldwin City will be on infill sites Tenants to Homeowners already own in the Community and would range from two to four bedrooms with garages.
