Wise Manor II - Affordable New Homes - Completed!!!

Sensible Shelter, a nonprofit developer associated with GMHA, has started the construction of Wise Manor II. These eleven new homes will be three and four bedroom units with garages and feature several different floor plans and exteriors. The sales price for the homes is between $120,000 and $127,000. All applicants must have a household income between 50% and 80% of median income for the area and pay at least $500 for the down payment. For a family of four, this means an income of between $30,100 and $48,150. Most families will be eligible to receive an affordability subsidy of $30,000 from the state of Ohio that will vary according to the household income. This means that the mortgage needed will be $30,000 less than the actual cost of the home.

Household Income Eligibility

Income eligible families who currently or recently received GMHA assistance will have top priority in applying for these homes. Other current residents of Xenia who are first-time buyers have the next preference as applicants. Eligible applicants who currently work, but don’t live in Xenia, will receive the next preference as applicants. Applications from local, eligible residents are encouraged, to ensure that these houses will be sold as soon as possible after construction is completed. To qualify, all eligible families must also complete a ten-hour homebuying class through the Greene County Dept. of Development and be pre-approved by a lender for the loan amount needed. Sky Bank will offer down payment incentives to home buyers who use its mortgage program.

Interested buyers who meet the income guidelines are encouraged to contact GMHA and request a Wise Manor Homeownership application. Call Keith GunderKline at 376-2908 or 429-7736 for more information.