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Own a Home

Achieve the dream of homeownership.

Mountain Housing Opportunities offers several programs to help families find affordable, inviting, and safe forever 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 In Buncombe, Henderson, Madison, or Haywood counties
  • Must not be currently a homeowner
  • Must have $1,000 to place toward the purchase of a home
  • Must live or work in the area for at least 12 months before the application
  • Must complete Homebuyer Education Course
  • Must have a credit score of at least 640, but this may be flexible depending on the situation
  • Households must earn less than 80% of the area’s median income

Mortgage Types & FICO Scores

Lenders typically look at your middle FICO score to determine if you’re eligible for a mortgage and what interest rate to charge you. Different mortgage products have different requirements. Here are the typical credit score thresholds, but keep in mind they can vary.

300

Keep working at it!

580

Probably the lowest credit score to get a mortgage.

620

VA Mortgages for veterans

640

USDA Direct for rural areas.

650

Your options are getting better and better.

760+

Relax. You can’t get a better deal.

Maximum Annual Income Limits

Household Size
Buncombe, Henderson, Madison Counties
Haywood County
1
$47,600
$42,000
2
$54,400
$48,000
3
$61,200
$54,000
4
$68,000
$60,000
5
$73,450
$64,800

Resources

Please thoroughly read the following resources before contacting MHO or applying to any of our homeownership programs. Each resource is highly valuable and essential on your journey toward being a homeowner.
USDA Direct Loans

USDA provides no down payment offers and low-interest rates for those buying outside the City of Asheville.

Homebuyer Education Course

Completing this homebuyer education course is a requirement of all our homeownership programs.

Homebuyer Resources

Find affordable mortgage products, down payment help, self-build programs, and more information on this resource website.

Let’s Get You Home

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 Kelly Nossiter at 828-254-4030, ext. 127, or email kelly@mtnhousing.org.

Turn-Key Homeownership

Our Turn-Key Homeownership program gives low-to-moderate-income families the option to own newly constructed single-family homes in Buncombe, Henderson, Madison, and Haywood counties. Construction is always ongoing.
Check back regularly to see what homes we’re building next.

Self-Help Homeownership

Our Self-Help Homeownership Program provides families and individuals the opportunity to achieve the dream of homeownership by building that dream with their own two hands. Each year, MHO brings together a group of 4-6 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, reduces 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. MHO is not taking new applications for this program at this time.

For information on upcoming developments, please call Megan Kirby at 828-254-4030, ext. 122, or email megan@mtnhousing.org.

Apply for a New Home Today

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