250 West Snow King Unit #7

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Condo for sale: 250 West Snow King Unit #7

First come, first served basis.  Please note this is not a weighted drawing. The first household to submit a complete application to the Housing Department will have an opportunity to qualify to purchase.

About the unit:

  • 1-bedroom, 1-bathroom
  • 480 square feet
  • Range, refrigerator, dishwasher, microwave, washer and dryer
  • 2 household pets allowed
  • Home Price: $280,000 (price reduced from its original listing price of $315,000)
  • Income Range: Workforce ownership unit - see eligibility requirements, below

  • No minimum Occupancy requirements

  • Raver Condominiums CCR’S (please read)

  • Draft Workforce Housing Ownership Restriction (please read)

Eligibility Requirements:

Please note the policies in effect: Housing Department Rules & Regulations

Eligibility Highlights:

  • At least one adult in the household must be employed full-time in Teton County for a minimum of one year. The Housing Department defines full-time employment as working a minimum of 1560 hours per year (30 hours/week average).
  • No income or asset limits.
  • Must have a completed Lenders Qualification Worksheet with an up to date Credit Report (provided by a local lender, AnnualCreditReport.com, or CreditKarma.com), and a completed Home Buyer Education Class Certificate all must be attached to the Weighted Drawing Entry Sheet or on file with the Housing Department. The Housing Department will keep your Lender’s Qualification on file for one year. The Home Buyer Education Certificate is good indefinitely.
  • The loan amount on your Lender’s Qualification worksheet is for at least the purchase price minus your down payment of the home for which you are applying. You must be able to prove your ability to secure financing.
  • 75% of the Household’s combined income must be earned working for a business located in Teton County.
  • Household must live in the home 10 months out of each year.
  • Household may not own any residential real estate within 150 miles of Teton County.
  • Household must complete the On Line Intake Form prior to drawing entry.
  • When households are qualified, current income earned by all intended adult occupants of the home is used to estimate an annual (12 month) projected income. If self-employed, income is calculated by averaging 3 years gross income.

What is needed to apply:

  • Complete Application
  • Lenders Qualification Worksheet
  • Current full credit report with credit score
  • Affidavit for Current Employment for all adult wage earners
  • If self-employed: 3 years business tax returns/w-2s and current profit & loss balance sheet. At least one adult in the household must be able to verify 1560 hours/year (an average of 30 hours/week). Please click here for an example of log of hours for self-employment. 
  • Home Buyer Education course class certificate: https://whninc.org/housing-counseling/homebuyer-education/
  • Last 2 years tax returns with W’2s
  • Current account statements for all checking, savings, cd’s, stocks, bonds, IRA’s, & retirement accounts
  • Proof of U.S. Citizenship or Lawful Permanent Resident. Must present a copy of a Birth Certificate, Passport, or Green Card.
  • Birth Certificate Must submit a copy of a birth certificate for any child under the age of 1.
  • Divorce Decree This is only required if your divorce occurred within the past ten (10) years or if you are receiving any type of income from the settlement.
  • Please click here for information for Critical Service Providers (CSPs)

    Example cost break down for a purchase price of $280,000:

3.5% down payment (required)

$9,800

Loan Amount

$270,200

Principal & Interest Payment (estimated 5%)

$1,450

Property Tax (estimate)

$138

Insurance (estimate)

$50

HOA Dues (estimate)

$120

Total Estimated Monthly Payment

$1,758

We recommend you speak to a local lender about all your financing options.