Becoming a homeowner is a dream that many will not attain because their income has to go for the necessities of life, leaving little money to save toward the purchase of a home. Owning a home is a wonderful opportunity to turn rent payments into home equity for the security of the homeowner’s family and for generations to come. It is a chance to have a home where everything works, where there is room for everyone and the appliances are new. It is an opportunity that Turning Point Ministries is able to put within the reach of our homeowners.
In order to qualify for homeownership through Turning Point Ministries, applicants must demonstrate a reason to live in Edmond. Examples would include, but not limited to, working in Edmond, caregivers living in Edmond and/or family members who are dependent on services available in Edmond.
Turning Point Ministries partners with our applicants, thus the applicant must be willing to work the application process in a timely manner. This includes a willingness to fulfill home buyer education, undergo and execute a budget and planning process, as well as giving of their time, energy and financial resources. All of our homeowners are required to complete 300 hours of “sweat equity” with 100 completed by the client; the remaining 200 hours can be accomplished through friends and family volunteering. A minimum of 100 hours should be working on Turning Point Projects, as they are available. 50 volunteer hours must be completed prior to contracting.
Applicants must be first-time buyers (defined as those who have not owned a home within the past three years, those who currently own a mobile home that is not on a permanent foundations, those who lease and whose who are a displaced spouse). In situations involving divorce, the first-time buyer requirement may be wavered.
Applicants must be a legal adult and a U.S. Citizen or a Resident Legal Alien and must personally occupy the residence on a permanent basis. (Full-time students must intend to make the home their permanent residence.)
Applicants must be the head of a household. A “household” may be a couple (with or without children) or a single person (with or without children).
Applicant must demonstrate a willingness to be an active part of the community, the neighborhood in which they live and be a volunteer contributor to the Heritage Village Community Association. Applicants must be employed or have a defined means of income. Applicants must have at least $1,000.00 for a down payment and good credit, or the ability to correct credit problems in a reasonable amount of time. Applicants can expect Turning Point Ministries will secure a credit check at the point of application.
Applicant’s source(s) of income must be deemed “stable and dependable;” specifically, income through a temporary agency will not qualify toward Applicant’s source of income. Acceptable sources of income include, but are not limited to: wages, overtime, commissions, bonuses, self-employment, Social Security and child support. Applicants will be required to disclose all of their financial assets and liabilities and will be subject to approval by the lender.
Our homes are not custom built, so lot selection, plan changes, and decorating selections are determined by Turning Point Ministries. However, on a case-by-case basis, Turning Point Ministries may be able to accommodate some physical disabilities. Following Applicant’s successful qualifying and completion of volunteer hours, our completed homes are available on a first come, firs tserve basis. Any variance from the order of homeownership will be at the sole discussion of the Turning Point Ministries Board. Home sizes are determined by income capabilities and size of family. In the event a qualified Applicant chooses to “pass” on an available home purchase, they will move to the bottom of the qualified applicant list with no guarantee as to when another completed home will come available.
Turning Point Ministries homes are cottage style w/2-4 bedrooms. Appliances include: a dishwasher, refrigerator, drop-in stove and garbage disposal. Washer and dryer are not included, but hookups are provided. Most plans have a one-car garage.
To begin the application process, please download an application by opening our Forms menu.
Turning Point complies with the Federal Equal Credit Opportunity Act. This act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (providing the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from a public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Updated April 2017. This information and all other information contained in this web site is subject to change without notice.