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:
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Have 3 to 6 members in their household
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Meet the income requirements (see table below)
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Be willing to enter into a 5-year contract to live in an HRA house
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Have the ability to pay rent and utilities without assistance
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Have eligible citizenship or immigration status
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Submit to background checks for credit, rental and criminal history
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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.