Purchase Rehab Resell Program
The purpose of the PRR—Purchase, Rehab, Resell program is to provide safe, energy efficient, affordable housing for low and moderate income persons in Red Willow County Nebraska. The majority of the housing stock in Red Willow County is aged; many times uncared for and in dire need of attention and that is where MEDC Housing steps in. MEDC Housing has funds from Nebraska Department of Economic Development, State Trust Funds, to use in facilitating the rehabilitation of such homes. Purchase Rehab Resell (PRR) Program can work in two ways. One, MEDC can buy a house, fix it up and sell it, which is what generally what happens or a property can be identified that needs repaired, contact Mary for a property evaluation, come to terms on price to be paid by the homebuyer after the house is rehabilitated.
This program targets first-time homebuyers in incorporated areas of Red Willow County that meet certain income levels, complete a REACH approved homebuyer education class and qualify for a home loan from a local lender. The homebuyer is required to provide a $500 investment and occupy the house as the primary residence for a minimum of five years.
If you have not owned a home in three years or have experienced a life change such as divorce or widowed you may qualify as a first-time homebuyer.
These programs serve those at or below 100% of the median income levels.
Please contact the MEDC Housing office for current requirements.
Potential participants should meet with Mary Kircher, MEDC’s Housing Development Director to learn more about the program and complete an application. Applications will be reviewed on a first-come, first mortgage ready basis. For additional information: Contact Mary Kircher at McCook Economic Development Corporation (308) 345-1200 or email@example.com