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Attainable homes are classified under categories. Jackson Teton County Affordable Housing (JTCAH) has category 2, 3, and 4 homes. Each category has a different income and asset limit. In order to qualify for a home in a specific category, you are not allowed to make more per year than the income limit for that category. You are also not allowed to have more in net assets than the category asset limit. Please view the Income and Asset Limit Chart (PDF) to see the income and asset limits for each Attainable category.
Jackson Teton County Affordable Housing does not facilitate the sale of Attainable homes so there is no lottery and we do not set the prices. However, JTCAH staff is required to qualify the buyers so an application needs to be submitted and approved before closing of any attainable home. JTCAH staff is required to be notified of the closing date and time so they can attend. Owners either list their attainable homes with a real estate company or sell them ‘by owner’. If the owner requests it, we will list their home on our website.
The potential buyer will either contact the owner or the realtor to see the home and negotiate the price. The contract should be contingent on qualifying with JTCAH. Once a contract is signed, the buyer will submit a complete application along with a copy of the contract to JTCAH.
Your income is the amount you earn before taxes are taken out. The amount you are currently making will be used for qualification purposes. If you are self employed, an average of the past three years will be used including year to date earnings. If you have not been self employed for 3 years, the length of time you have been self employed will be used to calculate your income.
Anything you own that is valued above $500 is considered an asset. All bank accounts, stocks, bonds, vehicles, etc. should be counted. Once you add them all together, subtract any debt you have and the result is your net assets.
We do not count retirement accounts as part of your assets unless you are planning to use the money as a down payment on the purchase. If so, this amount will be included in your assets.
The best way to find out when we have homes available is to check our website or look in the news paper. We recommend that you check our website every couple of weeks to be sure you are informed about available homes.
Once you have found an attainable home that you are interested in purchasing and are under contract, you will need to submit a complete application along with a copy of the contract to JTCAH. Please allow approximately 1 to 2 weeks for JTCAH to verify your application and qualify you to purchase.
There are many parts to submitting a complete application. Please view the Application Checklist (PDF).
There are many things you can do to prepare for purchasing a home, view the Preparing for Ownership page.