The Homebuyer Assistance Program
When purchasing a property within Willow Bend’s mixed-income, primary owner-occupied community, individuals will identify as one of the three homebuyers:
- A market-rate homebuyer - above 100% Median Family Income
- A moderate-income homebuyer - between 81% and 100% Median Family Income
- A modest-income homebuyer - at and below 80% Median Family Income
About Assisted Purchasing
Frequently Asked Questions:
We plan to build 80 homes in the Willow Bend neighborhood. One-third of the homes will be sold at market rate to any buyer who wants to live in the neighborhood. Another one-third will be sold at market rate and reserved for homeowners who earn between 80-100% of Median Family Income (MFI). The final one-third of the homes will be reserved for qualified home buyers earning less than 60% of MFI. These qualified buyers will be able to purchase their home at a $35,000 discount. All homes feature sustainable, durable, and cost-effective green building techniques. The Willow Bend neighborhood offers sustainable living in a desirable location, at a price that is accessible for working families, seniors, and first-time homebuyers. Willow Bend features environmentally-friendly neighborhood design, green homes, and achievable homeownership.
No. The official sales price of every home will be the market rate price, which protects confidentiality for all homeowners and also protects appraisal values. Whether you’re a neighbor or visitor walking, driving, or riding through the neighborhood, OR a realtor, appraiser, or banker reviewing purchase prices on the MLS or Washington County website, you won’t be able to tell the difference between purchase-assisted homes and market rate homes.
The purchase-assisted homes are dispersed throughout the Willow Bend development, and they blend into this lovely, new sustainable neighborhood.
Yes. All of the houses, in every price range, are architecturally designed. Purchase-assisted homes may be smaller in some cases and/or may contain less expensive interior finishes or features than are offered in market-rate housing, but both construction quality and design are consistent with other homes built.
The Homebuyer Assistance Program will be available to households whose income is less than 60 percent of the median family income (MFI) in Northwest Arkansas. Please contact Tenisha Gist at Tenisha@partnersforbetterhousing.org for additional qualification requirements for purchasing a home at Willow Bend.
Interested in learning more about the program? Tenisha is happy to answer any questions.
