NEICAC Housing builds Lease Purchase Homes in participating communities for families with children. Each home has 3 bedrooms, 1 bathroom, a 2 car garage and plumbing roughed in for an additional bathroom. Homes are inspected by State with Iowa Department of Public Safety or local inspectors. Applications are accepted before completion and a tenant is selected using the following criteria; Income Qualified at 60% AMI or less, Stable Income, Rental History, Credit History, Criminal Background Check, Need for the Program, Home Visit, and other factors. The selected tenant will lease the home for a period of 6-36 months during which time they are educated in financial fitness and home-buyer education. When the tenant is prepared we enter into a Lease and Purchase Agreement at which time the tenant may purchase the home. The property must maintain compliance for a specified affordability period (15 or 20 years). Homes sell to qualifying families based on their ability to pay. Lease Purchase homes are Energy Star Rated homes and are compliant to current energy codes at the time of construction. These homes include 35 exceptional features that keep utility costs low, provide for clean and healthy living, use non-toxic low VOC building materials, and conserve water and energy and are affordable for low-moderate income families. This same green design and energy star rating will be built into current and future affordable housing projects. NEICAC’s Property Manager and Housing Director area Certified Home-buyer Educators. Before the renting family can purchase the home, they will be responsible for taking classes to help them repair credit, improve financial and budgeting abilities, and learn home ownership skills. Homes are eventually sold to families earning less than 60% of their local Area Median Income.

Northeast Iowa Community Action Corporation is accepting applications for tenancy in their Lease Purchase Home (Rent to Own) for the home that is currently being built on Main Street in Fayette, IA. The home is a brand new energy efficient 3 bedroom, 1 bath with attached garage. Appliances include: stove, refrigerator, and dishwasher. Rent is $525/month, tenant pays all utilities. The home will sell in 1-3 years to an occupying family depending on tenant's purchase readiness.
To apply contact NEICAC Housing Program: E-mail This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.neicac.org; Housing Director, Jeremy Jostand (563)-387-4959; Property Manager, Julie Buddenberg (563)-387-4917.