270 W. Pearl Avenue Unit 109
**Important! To apply for this home, you must have completed the Online Intake Form prior to September 16, 2020. Please do not make any changes to your essential data during the weighted drawing period or you will not be eligible to apply.**
270 W. Pearl Avenue, Unit 109:
- Studio, 1-bathroom, range, refrigerator, microwave, dishwasher, 367 square feet, 60 square foot storage unit.
- Home price - $172,779
- Household income must be between 80% to 120% of the median family income (details below)
- Household size must be one (1) or two (2) people
- 1 household pet
- Shared entrance with only 2 other units
- Laundry on site, shared with 2 other units
- Permanent Parking Pass for Town Parking Garage
- At least one adult in the household must work a minimum of 1,560 hours per year. Please read the policies to enter any weighted drawing: Housing Department Rules & Regulations, Section 4: Weighted Drawing.
- Deadline to Apply: Tuesday September 29th by 4:00 p.m. No late or incomplete entries will be allowed, no exceptions. If selected first for this unit you will be notified by phone. All others will be sent an email notice.
- All forms needed to enter into this weighted drawing are here, under "Ownership - Weighted Drawing Entry Forms". These include a completed Lender's Qualification Worksheet, current credit report, completed Home Buyer Education Class certificate, Weighted Drawing Entry sheet, and current and past work affidavits.
Income Limits: To be eligible to enter this drawing your household's gross income (before taxes) must fit into the range listed below, and your household's net assets musts not exceed the asset limit listed below.
- One person household: $61,993-$92,988
- Two person household: $70,849-$106,272
- Net asset limit: $265,680
Calculation of income:
Household income is based on the current income earned by all intended adult occupants of the Restricted Housing Unit at time of weighted drawing entry using the current household income to estimate an annual (12 month) income basis. Households must use their current income and may not make changes or adjustments during a drawing period.
Business income of a qualifying Household is calculated using an average of the last three (3) years of income on the business’ tax returns. A year to date profit and loss determination will also be used to calculate business income. If the business has not been operating for three (3) years, the Housing Department will average income over the time the business has been operating.
Deadline to Apply: Tuesday September 29th by 4:00 p.m. No late or incomplete entries will be allowed, no exceptions. All forms need to enter into this weighted drawing are here, under "Ownership - Weighted Drawing Entry Forms".
You may receive one additional entry into the drawing for every year of verified full-time employment (minimum of 1,560 hours) in Teton County, Wyoming with a maximum of 10 years/entries.
Please click here for information for Critical Service Providers (CSPs).
We understand that our applications to enter into the weighted drawing take time and effort, and we do not want to disqualify you due to an oversight or misunderstanding about our process. Please bring your applications in prior to the due date so that we have time to work with you, make corrections, and give feedback if anything is wrong.
Example costs break down for a purchase price of $172,779
3.5% down payment (required)
Principal & Interest Payment (estimated 5%)
Property Tax (estimate)
HOA dues & monthly Ground Lease Fee (estimate)
Total Estimated Monthly Payment
Please talk to a local lender about closing costs, interest rates, and available loan programs to suit your financing needs. We recommend you choose a local lender.