Homeownership incubator program

Participant story

Andrea Parker and her family moved into their new home with down payment assistance from living at Sugar Creek.

Her Sugar Creek home was relatively maintenance free, and she enjoyed the back yard and included appliances.  All the while, her family was building the needed savings to purchase a home.

“We loved living at Sugar Creek, but there’s a different feeling when you own your own home... a pride that you have,” Andrea says.

This property offers special benefits to renters; thus, participants are required to actively participate in a homeownership program at all times while living here.

The program has three main parts:

1. Participate in homeownership counseling:  Documentation of your participation in HUD-certified training will be required.  We recommend Horizons, a local Cedar Rapids nonprofit, to provide this training.
2. Some maintenance is your responsibility:  You will be responsible for lawn care, snow removal, basic repairs, and other tasks you would need to complete in your own home.
3. Money is set aside for your down payment:  If you fulfill all program requirements, you may qualify for down payment assistance equal to $100 for each month you lived at Sugar Creek Bend.

Participation in the homeownership program requires a signed participation agreement and involves additional responsibilities.  Contact us to learn more.