Bloomington Housing and Redevelopment Authority (HRA) welcomes families of 3-6 members to apply for the Rental Homes for Future Home Buyers Program waiting list. Eligible families will rent one of the HRA’s 21- three-bedroom single-family homes for a maximum of five years. During that 5 years, the HRA works with families to set goals and prepares families to be ready to purchase and maintain their own home. The HRA saves a portion of the families rent each month, which is placed in escrow, and is used by the family to put toward a down payment on a house anywhere they want to live.
To qualify for this program you must meet the following criteria:
Have 3 to 6 members in their household
Meet the income requirements (see table below)
Be willing to enter into a 5-year contract to live in an HRA house
Have the ability to pay rent and utilities without assistance
Have eligible citizenship or immigration status
Submit to background checks for credit, rental and criminal history
Not own any pets
Minimum and Maximum Household Gross Income Allowed
3 Person Household - $41,360 - $71,950/year
4 Person Household - $41,360 - $79,900/year
5 Person Household - $41,360 - $86,300/year
6 Person Household - $41,360 - $92,700/year
How to Apply
Click here for more information, and to download the application.