Lower Valley Housing Corporation, a nonprofit corporation, has helped low-income families build over 360 new homes since 1990 in El Paso County through a program called “mutual self-help construction.”
Lower Valley Housing Corporation forms groups of 8-12 families and teaches them how to build at least 65% of their homes. The balance of the work is done by professional contractors.
The labor contributed by the families lowers the cost of the house and the monthly payments. This “sweat equity” serves as the down payment so that each borrower pays only minimum closing costs. Mutual self-help makes homes affordable for people who are not able to afford homes in the conventional housing market.
The mutual self-help program provides an alternative to families who would otherwise end up living in substandard colonias.
Hard work is the key to mutual self help. This, coupled with a willingness to work cooperatively with other participants represents a Texas home-grown solution for the common goal of homeownership.
Mutual Self-Help Home Costs
3 bedroom house cost $42,000
Down payment none
Monthly payments:
Note and interest $221.00
Taxes and insurance $105.00
Total monthly payment $321.00