Housing Development Alliance, Inc.     
Building Homes, Building Community
Since 1993        

Homeownership

The Housing Development Alliance offers comprehensive homeownership services for low-income families in Perry and parts of surrounding counties (Breathitt, Knott and Leslie).  Our housing counseling staff works with our clients in several ways to ensure their success as homeowners.  We work with people within a wide range of household incomes, at or below 80% of the Area Median Income ($28,100). The minimum income is about $6,500 per year, and the maximum income is between $22,000 and $32,000, depending on family size.  The cost of the home to the homeowner is subsidized based upon their income with long-term or deferred mortgages, and an interest rate between 1-7%.

Many families we work with have struggled with credit problems or debt load (percentage of monthly income already committed to other sources, i.e., a car payment).  Our housing counseling staff works with our clients to improve their credit so that they will qualify for home­ownership.   All of the programs that we work with have varying credit standards; at the minimum, each requires that the homeowner have current credit.  We do not provide clients with loans to pay off bad debts, but we will help contact creditors and set up payment arrangements.  Clients in our homeownership program receive specialized budget, credit, and housing counseling in pre- and post-homeownership settings.

The Housing Development Alliance has a variety of 3 bedroom plans that range in size from 1,000 to 1,150 sq. ft.  They are single story homes with an 8’x16’ front porch and a 5’x6’ side or back porch as a second exit.  Each plan can be customized to meet the client’s needs, including making the home fully wheelchair accessible (ADA compliant).  Our full-time construction crews, with help from our volunteers, build each house to meet local and state codes and requirements.  One of our funding sources, the Housing Assistance Council’s Self-help Housing Opportunities Program, requires our homeowners to volunteer 200 hours of sweat equity during the construction of the house in lieu of a cash down payment. 

The Housing Development Alliance works with several different funding sources (USDA- Rural Development, Kentucky Housing Corporation, Federation of Appalachian Housing Enterprises, our own Revolving Loan Fund, etc.) to ensure our homes are affordable under U.S. Department of Housing and Urban Development guidelines.  “Affordable housing” is defined as 30% or less of one’s monthly income committed to housing expenses.  Our clients have an average monthly house payment of $255, which includes taxes and insurance, less than many would pay in rent in Hazard. 

For more information regarding our homeownership program, please contact Leslie Craft, Housing Counselor.

All programs and services of the Housing Development Alliance are available without regard to race, color, religion, national origin, sex, disability or familial status.

Building Homes,
Building Community
Since 1993

HDA, Inc.
P.O. Box 7284
Hazard, KY 41702
606.436.0497