LINCOLN, Neb. (KOLN) — As of Monday, three families from Lincoln now have a new home thanks to Habitat for Humanity of Lincoln, which constructed their houses.
The recently built triple-unit property situated in southwestern Lincoln has been valued at $308,000. Each unit offers approximately 1,800 square feet of living area featuring four bedrooms, three bathrooms, along with an uncompleted basement.
The triplex was constructed in merely two months and two days, making it the inaugural project of this nature for the nonprofit’s Lincoln branch, as stated by CEO and Executive Director Shay Homeyer.
Hoyer mentioned that each year, potential homebuyers submit applications for houses and are selected by a group of peer reviewers. These reviewers assess applicants based on their financial needs and income levels to determine family selection.
We're essentially providing hope to those who never believed they could own a home," she stated. "Many of these families have been forced to cram multiple individuals into one room just to make ends meet, but now they can enjoy living in a spacious house for the same cost as renting.
Before completing the construction process, the new homeowners need to collect several hundred Sweat Equity Hours , which involves the actual labor performed on the house during construction.
After finishing, they secure a mortgage with an interest rate of 2.65%, significantly below the majority of prevailing rates.
Ericka Martinez, a new homeowner and single mother of two, expressed her excitement about having a fresh start in her new house.
I submitted my application roughly one and a half years ago, honestly not expecting to be accepted," she stated. "I am incredibly thankful for this initiative; it feels very attainable thanks to their efforts, and participating has significantly enhanced my appreciation of it.
Hoyer mentioned that the nonprofit finishes around 5 to 6 houses annually for families in Lincoln.
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