250 E 2nd Street, North Bend 98045
Located in North Bend, WA, these homes are slated to be built and you could be one of the first new homeowners! The homes are conveniently located near various parks including William Henry Taylor Park, Torguson Park, Riverfront Park, Si View Park and EJ Roberts Park. Within a short distance, there are a variety of shops and restaurants to choose from. The homes also have access to multiple bus routes within a few block radius. There are numerous public, charter, and private school options nearby.
Unit Mix
7 units total:
3 bedroom, 1.5 bath
1250 sq. ft.
1 ADA accessible unit
Resident Profile
Must have income less than 80% AMI see below for more details
Homes will be resale restricted to provide for permanent affordability
Must be willing to partner and complete sweat equity hours
Must meet lender requirements and secure financing to meet minimum mortgage amount
Financial Information: Required Buyer Contribution
Your monthly mortgage payments will be based on your income:
- 5 of these homes will be sold to households whose income falls under 80% AMI, in this case your income must be high enough to afford a mortgage of $250,000
- 2 of these homes will be sold to households whose income falls under 50% AMI, In this case your income must be high enough to afford a mortgage of $195,000
| Household Size | 50% AMI | 80% AMI |
| 1 | $44,800 | $66,700 |
| 2 | $47,800 | $76,200 |
| 3 | $53,750 | $85,750 |
| 4 | $59,700 | $95,250 |
| 5 | $64,500 | $102,900 |
| 6 | $69,300 | $110,500 |
| 7 | $74,050 | $118,150 |
| 8 | $78,850 | $125,750 |
Sweat Equity
This is a Self-Help Homeownership Program, which enlists the buyers in the actual building of their home. Homebuyer applicants are required to contribute 20 Sweat Equity each week during the construction of the home, 10 hours of which can be donated.
Availability
Applications will be available April 30th