Applications being taken for tax credit homes

Applications being taken for tax credit homes

Macoupin Housing Services (MHS) is currently taking applications to fill the remaining tax credit homes recently opened in Staunton, Bunker Hill and Gillespie.

According to Chief Executive Officer Peg Barkely, about half of the homes are filled, with two remaining in Staunton, five remaining in Bunker Hill and 12 remaining in Gillespie.

The homes are funded by federal tax credits through a program managed by the Illinois Housing Development Authority. The program requires that the properties are rented for 15 years, after which time they can be sold, hopefully to the families occupying them.

MHS serves as a certified credit counseling agency for the purpose of providing guidance to families renting the properties so they will qualify for a traditional mortgage when given the option to purchase the home.

Although those wishing to apply don’t have to provide a credit score, they must have a steady income, a rental history and pass a criminal background check.

Maximum income limits are based on 60 percent of the Macoupin County median income of $61,900, which means a single person can earn no more than $26,040; a two-person family, $29,760; three-person family, $33,480; four-person family, $37,140; five-person family, $40,140; six-person family, $43,140; seven-person family, $46,080; eight-person family, $49,080.

Those interested in applying for a home are asked to call 217-854-5393.