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HSI Home Owner Application


Housing Sewanee, Inc. (HSI) is a non- profit organization financed through private donations, grants and fundraising activities. We provide affordable housing for individuals and families in the greater Sewanee area. Volunteer labor does the majority of the work to construct housing. Clients are selected who could not otherwise afford a home under an interest free lease-purchase agreement or mortgage.

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How the Housing Sewanee application process works

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  1. An online application form is available on our website or a PDF of the application can be downloaded here.

  2. Printed applications are available at the Community Action Committee (CAC) office located in St. Mark & St. Paul Episcopal Church (216 University Ave. Sewanee, TN)

  3. Printed applications can be returned to the CAC office or mailed to P . O. Box 3152,
    Sewanee, TN 37375

  4. All applications will be considered and selected clients will be contacted to interview

  5. As an HSI home approaches completion, a suitable occupant will be selected based on their application, demonstrated need, interview, and prequalification for a mortgage loan from an acceptable lender

  6. Prospective lenders will likely require an appraisal of the property as part of the application process. The difference between the appraised value of the home and the cost at which HSI will sell the home may be considered an equity infusion into the transaction, eliminating the requirement for a downpayment. HSI will require a copy of the appraisal, followed by an agreement with a purchaser and shall include the following statement: “In the event of a resale of the property within the first eight years after (closing date), HSI will be entitled to receive an amount equal to the difference between the appraised value at the time of original closing and the price at which HSI initially sold the property”. This share may be waived, in whole or in part, by the HSI
    board if they so decide

  7. When all preconditions have been satisfied, a closing will be scheduled at which the purchaser will execute and deliver (a) a promissory note and mortgage or deed of trust to his or her lender, in exchange for the lender’s payment of the purchase price directly to HSI, and (b) a second mortgage or deed of trust to HSI to secure its interest in the proceeds of any sale of the property described in the preceding paragraph. HSI will
    execute and deliver a deed to the property subject to said mortgages or deeds of trust and to the restrictive covenants adopted for the development at Sherwood Spring.

  8. After closing, the purchaser will be responsible for payment of all utility charges, and for maintenance, repairs, and other expenses of home ownership. Real property taxes and insurance premiums will be escrowed and included in payments on the mortgage
    note at the discretion of the purchaser’s lender.

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New Homeowners Will Be Selected Based on the Following:

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  1. Need for adequate housing

  2. Financial need

  3. Ability to make monthly payments

  4. Family and job stability

  5. Character references related to care of property, responsibility, dependability and ability to work with other.

  6. Willingness to participate in the HSI program and to agree to the following:

    1. If accepted as the recipient of an HSI house, I will meet with the HSI Support Committee, at times mutually agreed on, to discuss financial and communal obligations associated with owning a home. I will meet any requirements
      specified by the Support Committee.

    2. If I am unable or unwilling to meet the requirements or my financial circumstances change, then HSI reserves the right to reject the applicant for home ownership at any time before closing.

    3. If selected as a future HSI home owner you will be required to work, as an unpaid volunteer, for an average of 4 hours per week totaling at least 200 hours over three years. This commitment can be fulfilled either by hard skills (construction,
      cleaning, clearing land, etc.) or soft skills (working on the HSI website, helping toorganize meetings, assisting with fund raisers, etc.) The time worked using hard skills may be on your future home or on another.

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