A reasonable housing expansion could be along the way to Columbia

The town is discussing what to do along with vacant properties. COLUMBIA, S i9000. C. — More affordable casing could be on its way to Columbia. The city’s community advancement committee discussed options through the city this past week. “There are a lot of residential a lot that are vacant that have possibly been owned by the town or have been owned simply by corporations for some time, ” Columbia Assistant City Manager Missy Gentry said. Gentry stated it’s time for some thing to be done with the several empty lots around the city. “We have, in the last year, experienced lots of conversations – really prior to that, even, yet last year specifically – about how exactly to create new affordable casing homes on those plenty, ” Gentry said. This really is through a city loan system based on income and credit rating. If this plan comes to fruition, there are a few things that the city will require for people to get one of these inexpensive homes. “It is going to be very critical the city’s affordable home loan system remain intact because, to make these homes available, we are gonna need that source, ” Gentry said. Based on the city’s website, there is a minimal score of 640 along with a maximum income based on the number of individuals in the household. “Our companion lender holds 80% from the loan and we hold twenty percent to keep it a conventional loan without PMI, which helps with the particular mortgage cost being less expensive, ” a Columbia Casing employee said. The city is certainly working collaboratively to ensure that brand new affordable homes can be constructed. The city added that this is a team effort with companies as many properties are possessed by companies.