4307 S. Sage Meadows Road

Front Exterior
Main Bedroom
2nd Bedroom
Bathroom
Kitchen
Living Room
Living Room
Loft
Loft

Back Exterior
Kitchen Pantry
Kitchen
Living Room
Living Room
Living Room

2-bedroom, 1 bathroom, unfinished loft, 1 car garage, 1,036 square feet, range, refrigerator, washer & dryer, UPDATE - 1 dog/pet allowed. Additionally, no more than two vehicles, one allowed in drive way, and one allowed on street.

Sales Price: $500,000

Income Range: Workforce ownership unit - see eligibility requirements, below.

Occupancy Requirement: one (1) or two (2) adults with one (1) or more dependents

Deadline to Enter the Weighted Drawing: Tuesday, March 19, 2019 by 4:00 p.m. No late or incomplete entries will be accepted. Please scroll to the bottom of this listing for all forms needed to apply to enter the weighted drawing.

We understand that our applications to enter the weighted drawing takes time and effort, and we do not want to disqualify you due to an oversight or misunderstanding about our process. Please bring your applications in prior to the due date so that we have time to work with you, make corrections, and give feedback if anything is wrong.

Calculation of Income:

Household income is calculated based on the current income earned by all intended adult occupants of the Restricted Housing Unit at time of weighted drawing entry using the current household income to estimate an annual (12 month) income basis. Households must use their current income and may not make changes or adjustments during a drawing period.

Business income of a qualifying Household is calculated using an average of the last three (3) years of income on the business’ tax returns. A year to date profit and loss determination will also be used to calculate business income. If the business has not been operating for three (3) years, the Housing Department will average income over the time the business has been operating.

Proof of one-year full-time employment, 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.

Please make sure 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.

You may receive one additional entry into the drawing for every year of verified full-time employment (minimum of 1,560 hours) in Teton County with a maximum of 10 years/entries.

CSPs are an employee or volunteer of a Housing Authority approved community based institutional or non-profit organization on call 24 hours per day for public safety emergencies. Qualified CSPs may receive one additional entry with a maximum of two per household.

Eligibility Requirements:

75% of the Households combined income must be earned 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
At least one member of the Household must work a minimum of 30 hours per week (or a minimum of 1,560 hours per year) in Teton County for at least one year

Example cost break down for a purchase price of $500,000:


3.5% down payment (required)	$17,500
Loan Amount	$482,500
Principal & Interest Payment (estimated 5%)	$2,928
Property Tax (estimate)	$238
Insurance (estimate)	$100
HOA Dues (updated)	$65
Total Estimated Monthly Payment	$3,331