In a follow-up to a story we last reported on Nov. 2, 2011, IslandPacket reports from Bluffton, South Carolina, the six modular homes designated as affordable housing are nearing completion and should be available for prospective homebuyers to tour the new homes in January. Twenty applications have been received from first-time homebuyers with low to moderate incomes who must make no more than 80 percent of the town’s median income to qualify, and will be able to buy the homes from the town of Bluffton. Because the homes will cost more than a low-to-medium income family can afford, grant money will make up the difference, and this “second mortgage” will be forgiven at the rate of 20 percent a year after the first five years of occupancy. The Greenery, a Hilton Head landscaping firm, donated labor and plants to create rain gardens and line pathways between the modular homes.. The one million dollar received funding from the federal government and the Low Country Council of Governments. The town must recover $202,800 from selling the homes to help pay its share of the expense.
(Photo credit: Modular Homes of Delaware)