The first three homes built under an affordable housing program are now on the market in Des Moines.
The homes from the Central Iowa Community Land Trust are part of an effort to provide permanent, affordable housing in central Iowa.
Homebuyers would purchase the home using a financial model in line with the buyer’s income.
Program manager Jaqueline Chico says when someone sells the home, the Land Trust model makes sure it stays affordable for the next buyers.
“They agree to sell it to another income-eligible homebuyer,” Chico says, “and the Central Iowa Community Land Trust would then take care of the sale.”
Chico says the program makes sure that a buyer spends 30-percent or less of their annual gross pay. She says the program prepares the buyer for ownership before and after they purchase the home.
“It’s really that partnership in one, being prepared, and two, finding the resources if you need additional assistance,” Chico says.
A buyer has been identified for one of the three new homes, and applications are open for the other two.
Chico says they hope to expand across Iowa and reach 100 homes in the next three years.
