A HOME FOR THE HOLIDAYS
Travis and Julie Munson celebrated the holiday season as first-time homebuyers thanks to the Idaho Housing and Finance Association, Mercy Housing Northwest-Idaho (MHNW-ID) and the city of Nampa.
“It’s an unbelievable thing,” said Travis Munson, a chemical supervisor for an irrigation district.
Seeking to restore distressed houses in the area, MHNW-Idaho and the City of Nampa purchased the four-bedroom foreclosure using Neighborhood Stabilization Program funds. Then, the Munsons completed the Finally Home homebuyers program through the Idaho Housing and Finance Association, which gave them assistance with a down payment and closing costs, and access to mortgages with higher debt ratios.
Using part of a $100,000 Priority Markets grant from Wells Fargo, MHNW-ID rehabilitated the Munsons’ home, fixing problems and making it more energy-efficient and cost-efficient to maintain.
The move means plenty of room for Travis and his young, growing family. The Munsons had been raising their two boys and a girl in a 900-square-foot, three-bedroom home.
“Now I’ve got a nice, big back yard. I want to get a dog,” said Travis. “The only way we’re able to get this house is with the grants.”
The gift of giving was the pre-eminent theme as Wells Fargo presented Mercy Housing with a check for $150,000 to rehabilitate 12 foreclosed homes in Idaho. In the past two years, Mercy Housing has rehabilitated and sold 12 formerly distressed homes in the Treasure Valley.
“Our work is more relevant than ever before,” said Robert Reed, Director of Housing Development for MHNW-ID. “Today, we have 15 additional homes in the pipeline, and six have contracts from buyers. None of this would be possible without the collaboration of our partners like Wells Fargo.”