MEMPHIS, TN (WMC) - One Memphis Community wants you to know if you make at least $10 an hour, homeownership is an option for you.
The Frayser Community Development Corporation (CDC) created a website to help connect people to lenders and realtors.
According to the Frayser CDC, someone who makes $10.00/hr can afford a house payment of $496.00: which is 31 percent of their gross monthly income. This will pay for a house costing up to $62,000.
At least three of the lenders listed offer down payment assistance and many waive mortgage insurance.
The Frayser CDC also offers a free HUD approved counseling program to help individuals understand the process of home ownership.