All structures are built the same way. You start with the foundation. Now the Batesville Housing Authority is teaming up with two local banks to provide a way for middle and lower class residents to "lay the foundation" of buying their first home.
With the help of available federal grants and low interest loans the city is hoping to provide a way for first time buyers to purchase their home with little to no down payment. This would save the new owners potentially thousands of dollars while giving them instant equity as well.
Citizen Bank Chief Lending Officer Mark Skelton says he is excited about the possibilities. He envisions a plan which would put people into new and used homes at a fraction of the current price. In turn helping the local ecomony by increasing tax revenue and building homes on empty lots.
Initially the city hopes to build fifteen new homes. But if everything works out well they say they could build many more.