DANVILLE — Veterans who have been unable to find affordable housing as they come out of transitional living will have a new option with a local manufactured housing park.
A pilot project spearheaded by the New Hampshire Community Loan Fund called Veterans First will make 10 house lots available in the Rock Rimmon Cooperative, a resident-owned community.
Five new 500-square-foot homes were recently delivered to vacant lots in the park. The plan calls for another five to be added in the future.
The project is designed to meet the needs of veterans who, like many others, have struggled to find a home or rental property they can afford.
“We saw the need for veterans ready to leave transitional housing. The real estate market right now is so tight and it’s almost impossible to find a rental. With modest income it’s difficult to find anything to buy,” said Jen Hopkins, the Community Loan Fund’s director of single family housing.
The Community Loan Fund — a nonprofit that provides financial assistance and other support for people with low and moderate incomes in need of affordable housing — is also working with Harbor Homes, a transitional housing program in Manchester and Nashua, to find veterans for the one-bedroom energy-efficient homes.
Hopkins said the homes will cost $49,500 with zero percent financing through the Community Loan Fund.
Each home will cost about $600 a month, which includes the mortgage, taxes, homeowner’s insurance, and the fee for renting the lot in the park, Hopkins said.
Offering a mortgage with no interest is possible through the Community Loan Fund’s capital donors. The project is also supported by the Federal Home Loan Bank of Boston, Merrimack County Savings Bank, the Jameson Trust, Thomas W. Haas Fund, Steven Epstein Donor Advised Fund, and Howe Family Funds of the New Hampshire Charitable Foundation.
“We’re just excited to be able to do this. It’s a pretty phenomenal project that’s come together and it’s the right time to fill that need for good, affordable homes,” Hopkins said.
While the Community Loan Fund is teamed up with Harbor Homes, Hopkins encouraged anyone who knows a veteran who could benefit from the housing project to contact her at 856-0714.