**Important! To apply for this home, you must have completed, updated, and verified your Online Intake Form before July 9, 2024. Please do not make any changes to your essential data during the weighted drawing period or you will not be eligible to apply.** 

941 Sandcherry Way Unit 3 (located by Jackson Hole Golf & Tennis):

• 1-bedroom, 1-bathroom 
• Approximately 672 square feet
• Range, refrigerator, microwave, and dishwasher
• 1 household pet, NO DOGS allowed (when this home was built, the County chose to prohibit dogs in this neighborhood) 
• Home Price: $176,403
• Household income must be between 50% to 80% of the Median Family Income (details below)
• Household size must be 1 or more people.
• At least one adult in the household must work a minimum of 1,560 hours per year. Please read the policies to enter any weighted drawing: Housing Department Rules & Regulations, Section 4: Weighted Drawing.
• Deadline to Apply: Tuesday, July 9th by 4:00 p.m. No late or incomplete entries will be allowed, with no exceptions. If selected first for this unit you will be notified by phone. All others will be sent an email notice. 
• All forms needed to enter into this weighted drawing are here, under "Ownership - Weighted Drawing Entry Forms". These include a completed Lender's Qualification Worksheet, current credit report, completed Home Buyer Education Class certificate, Weighted Drawing Entry sheet, and current and past work affidavits. 
• CCR'S
• Special Restrictions

Weighted Drawing Entry Eligibility Highlights:

• You may receive one additional entry into the drawing for every year of verified full-time employment (minimum of 1,560 hours) in Teton County with a maximum of 10 years/entries.
• You must have a completed Lenders Qualification Worksheet, with an up-to-date Credit Report (provided by a local lender, AnnualCreditReport.com, or CreditKarma.com), and a completed Home Buyer Education Class Certificate all must be attached to the Weighted Drawing Entry Sheet or on file with the Housing Department. The Housing Department will keep your Lender's Qualification on file for one year. The Home Buyer Education Certificate is good indefinitely. Homebuyer Education Link
• The loan amount on your Lender's Qualification worksheet is for at least the purchase price minus your down payment of the home for which you are applying. You must be able to prove your ability to secure financing.
• Household must live in the home 10 months out of each year.
• Household may not own any residential real estate within 150 miles of Teton County.
• Please click here for information for Critical Service Providers (CSPs).

Income Limits 

To be eligible to enter this drawing your household's gross income (before taxes) must fit into the range listed below, and your household's net assets musts not exceed the asset limit listed below. 

• One-person household: $46,585-$74,536
• Two-person household: $53,240-$85,184
• Three-person household: $59,895-$95,832
• Four-person household: $66,550-$106,480
• Five-person household: $71,874-$114,998
• Net asset limit: $212,960

Example costs break down for a purchase price of $176,403

"It is recommended that you speak to a local lender about all your financing options. Please be aware that due to demand, most lenders need a minimum of 48 hours to provide a completed Lenders Qualification sheet."

Calculation of Income

Household income is calculated based on the current income earned by all intended adult occupants of the Restricted Housing Unit at the time of weighted drawing entry using the current household income to estimate an annual (12-month) income basis. 

Self-Employment Income Calculation Policy 

Business must be a Qualified Local Business for income to be counted as Local Income.

Gross business income is used minus the cost of goods sold (not the cost of goods in inventory – that is an exempt asset) and minus cash expenses only. Equipment, vehicles, furniture, fixtures, etc. are already exempt from being counted as assets so they are not allowed to also be deducted from income. Travel expenses will only be deducted in cases where travel is directly related to the business as determined by the Housing Department. Meals/Entertainment expenses will not be counted as a deduction. Depreciation is not an allowed deduction.

For questions, contact the Housing Department.

We understand that our applications to enter into the weighted drawing take time and effort, and we do not want to disqualify you due to an oversight or misunderstanding about our process. Please bring your applications in prior to the due date so that we have time to work with you, make corrections, and give feedback if anything is wrong.