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Home Loan Program FAQ
First Story is a nonprofit lender who works exclusively with builder Hayden Homes to offer loans on pre-selected homes in existing Hayden Homes communities. First Story does not offer loans outside its loan program.
Monthly payments, which include mortgage, insurance, taxes and HOA, vary based on the home’s location.
Home locations and application status is available on our Own a Home page.
Loan eligibility & qualification criteria may vary based on the home’s location. In general, you will need to meet the following requirements before submitting an application:
- You currently have no negative credit accounts or items in collections.
- You currently live or work in the County where the home is located.
- You are a U.S. citizen or have permanent resident alien status (required for borrower on title only).
- You are a first-time home buyer.
- Your gross annual income is at or below the 80% AMI limit for your household size in the County where the home is located.
You can view the Median Family Income limits for First Story home locations here.
If there is no housing partner listed in your area, please email us at info@firststory.org to learn how to complete the required homebuyer education class.
First Story works closely with nonprofit housing partners who specialize in homeownership preparedness and financial readiness. We notify our partners when a home becomes available in their service area. Potential applicants should work with our partner to complete their homebuyer education and financial literacy counseling. After completion, our housing partner will assist with the application process. Visit our Own a Home page to find a nonprofit housing partner in your area.
No. While Hayden Homes is our founder, First Story homes and our homeowner loan program are made possible by individuals, organizations and companies who donate funds, building materials, and volunteer hours to make homeownership a reality for our deserving families.
For more information on how Charitable Covenants specifically support First Story Grants, please see below.
FIRST STORY GRANT PROGRAM FAQ
Since Hayden Homes founded First Story in 1998, First Story has given more than $2.6 million in grants to local nonprofits in the communities where we live and work. Hayden Homes strives to passionately support these communities with a philosophy they call Give As You Go™, and our First Story Grants are an extension of this philosophy. The purpose of these grants is to strengthen local communities where all of us can lead fulfilled lives.
First Story has regional committees who are engaged in their local communities and who nominate nonprofits. In addition, all Hayden Homeowners can nominate local nonprofits who are working to strengthen their neighborhoods and communities.
No, unsolicited grant applications are not accepted.
Hayden Homes intended for First Story to reflect the company’s culture of giving. Every time a Hayden Home is resold, 1/8th of 1 percent of the sale can be donated specifically to First Story Grants using a Community Charitable Covenant, with 100 percent of the contributions then going to local nonprofits in the county where the home was sold. The community charitable covenant raises funds for local nonprofits with every resale, ensuring a sustainable funding source to continue to help strengthen local communities long into the future.
GENERAL FAQ
First Story does not offer traditional volunteer opportunities. If you would like to make an impact in changing a family’s life, please visit our Donate page.
Yes, First Story has a Venmo account secured by PayPal. Find us @firststoryorg.
First Story receives no government funding and relies on gifts of cash, labor and materials to construct our homes. Additionally, we sell every home move-in ready so that our buyers are not financially burdened by the costs of things like appliances, landscaping, and window coverings. Donations help First Story offset the costs of providing move-in ready homes.
Our Tax ID# 91-1755886.
Yes, First Story is a public, 501c3 nonprofit organization.