Creating safe, beautiful, and affordable housing!
Purchasing a Community One Home
Through volunteers, partnerships, and financial generosity Community One works to provide safe, beautiful and affordable housing to individuals with low or moderate incomes in Evansville.
Community One sells their fully rehabbed homes to selected applicants. Accepted applications must purchase the home from Community One through financing from a traditional lender. We do not rent or lease homes, and do not sell on contract. Proceeds from the sale of homes fund future restorative housing projects and initiatives.
Applications are now being accepted for a 3-bedroom, 1-bath in the Tepe Park neighborhood. The sale price of this home is $135,000.
1. Determine if you meet the criteria:
FINANCIAL Criteria:
- Future homeowner’s income must be no less than 50% and no more than 80% of Vanderburgh County Area Median Income. Current AMI income limits from HUD below. NOTE: Homebuyer must agree to provide Community One with verification of their total household income.
Household Size: | 1 | 2 | 3 | 4 | 5 | 6 |
Household Income must be less than: | $46,500 | $53,150 | $59,800 | $66,400 | $71,750 | $77,050 |
- Future homeowner must be able to qualify for and acquire a mortgage. The lender must be reputable and not charge excessive fees, high and/or variable interest rates, or balloon payments.
- Future homeowner must have the ability to pay the mortgage, including insurance and property taxes.
- Future homeowner must have a credit score of at least 600, with an ideal score of 640.
- At least two years of continuous employment and/or, if disabled, currently receiving the minimal requirements through disability payments.
- A maximum of $1,000 in general collections.
- No foreclosures within the last 7 years.
- No current liens or judgments.
- No bankruptcy in the last 4 years.
HOUSING Criteria:
Client must demonstrate a need for housing which may include:
- Unable to get a secondary market loan.
- Current living situation is overcrowded.
- Current living situation has unsafe issues the landlord will not fix.
- Overburdened by the cost of current rent.
- Current living situation is not a safe environment.
ADDITIONAL Criteria:
- Future homeowner must be a current resident of the Tri-State region.
- Future homeowner must purchase with intent to be the primary residence. Property is not sold to investors or those who intend to rent the property.
- Future homeowner is required to complete a homebuyer’s survey at closing.
2. Complete Application
Complete the application form below or print and complete a paper document (email to info@community1.orgor mail to 402 S Green River Rd, Evansville IN 47715).
Applications are reviewed by the Community One Selection Committee. After the application window has closed, all applicants will receive notice of the status of their application whether or not they are selected within three weeks of the application closing.
3. If Selected – Become a Homeowner!
Once your application is selected, Community One will work with you, your lender, and our real estate agent to close on your home. A homebuyer’s survey must be completed before or at closing.
If your application is not selected, you will be contacted to let you know. You are invited to apply the following year for homeowner consideration.
If you have any questions, please contact us at info@community1.org.