Submitted by Elizabeth Grisham on
Meri was staying with her dad, but with four children, space was a challenge. She really wanted to own her own home and provide room for her children to flourish and grow. She had always worked hard and been financially responsible. Credit wasn’t an issue, but as the only parent in a large single-income family, she just couldn’t afford to buy a home that would meet their needs through traditional lending avenues. She had tried.
Then, one day Meri saw a Facebook post that would change her life. She read about affordable loan options offered by Clinch-Powell and decided to give us a call. So, here we are less than a year later, and Meri just closed on her first home! She is now the proud owner of a lovely three bedroom, two bath house with a large finished basement that is a perfect recreational space for teenagers! This has all been possible through Clinch-Powell’s Homeownership Made Easy Program, and partnerships with Fahe, USDA-Rural Development and the Tennessee Housing Development Agency. In addition to an affordable USDA-RD Home Loan, Meri was able to receive HOME grant funds through THDA and down payment assistance through Fahe, making homeownership achievable for her. (Read More)
Homeownership Made Easy uses Federal HOME grant dollars to purchase and rehab an existing home that can be sold to an eligible borrower, leaving part of the grant funds in the home to make the home affordable. Meri’s house received a new roof, updated plumbing and electrical systems, and refurbished cabinets. Clinch-Powell assures that all of the systems in the home are in good condition and will not likely need repairs for a long time, making the maintenance of the home more manageable and affordable for the homeowner. In addition, through Clinch-Powell’s lending partner, Fahe, Meri was able to receive some down payment assistance as well. Homeownership Made Easy does have some eligibility restrictions. If you would like more information about the Homeownership Made Easy Program, or other Clinch-Powell Programs, call 865-828-5927.