Own a Home
Achieve the dream of homeownership.
Mountain Housing Opportunities offers several programs to help families find affordable, inviting, and safe homes. Please read the eligibility criteria below before applying for these programs. The MHO team is here to support you on your journey to becoming a new homeowner!
General Requirements for Homebuyers
- Must live or work in Buncombe, Henderson, Madison, or Haywood counties for at least 12 months before application
- Must not be currently a homeowner
- Must have $1,000 to place toward the purchase of a home
- Must complete a HUD-approved Homebuyer Education Course
- Must have a credit score of at least 640, or acceptable alternative credit, depending on the situation
- If your credit score is below 640, your first step is to schedule time with a credit counselor.
- Households must earn less than 80% of the area’s median income
*MHO will keep your application on file for 2 years.
Maximum Annual Income Limits
Household Size | Buncombe, Henderson, Madison Counties | Haywood County |
1 | $57,350 | $48,550 |
2 | $65,550 | $55,500 |
3 | $73,750 | $62,450 |
4 | $81,900 | $69,350 |
5 | $88,500 | $74,900 |
Explore our different homeownership programs.
Down Payment Assistance
Our Down Payment Assistance Program can fill the cash gap between the amount of your first mortgage and the total cost of purchasing a home. While you can use these loan funds for your new home’s down payment, they can also cover closing costs or increase your purchasing power.
If you are a potential homebuyer with questions or a lender seeking additional program information, please call Angi Welch at 828-254-4030, ext. 127, or email angi@mtnhousing.org.
MHO is now a certified LOAN PACKAGER for USDA 502 Direct Loans. This loan product helps eligible low- and very-low-income applicants obtain decent, safe, and sanitary housing in eligible rural areas through interest rate subsidies allowing higher loan amounts or better affordability.
Turn-Key Homeownership
Check back regularly to see what homes we’re building next.
For information on upcoming developments, please call Megan Kirby at 828-254-4030, ext. 122, or email megan@mtnhousing.org.
Self-Help Homeownership
Our Self-Help Homeownership Program brings together a group of 6 qualifying households to work cooperatively to build their homes under the guidance of an MHO construction supervisor. All homes built are financed with low-interest USDA mortgages, which, along with the homeowners’ “sweat equity” construction hours, reduce the cost of the homes.
With this program, neighbors work together to build a community from the ground up. The program is labor-intensive but also immensely rewarding.
Check back regularly to see what homes we’re building next.
For information on upcoming developments, please call Megan Kirby at 828-254-4030, ext. 122, or email megan@mtnhousing.org.
LET’S GET STARTED!
Resources
If you are a first-time homebuyer and unsure where to begin, check out On Track’s First Time Homebuyer Program. If you are looking for an affordable first mortgage loan, you might want to consider a USDA Direct Loan.
Homebuyer Education Course
Completing this homebuyer education course is a requirement of all our homeownership programs.
USDA Direct Loans
USDA provides no down payment offers and low-interest rates for those buying outside the City of Asheville.