Miracle on Britton

A New Chapter in Local Housing is About to Begin.

MIRACLE ON BRITTON

A Bold, Game-Changing Initiative to Restore the American Dream of Owning a Home 28 BEAUTIFUL FEE SIMPLE HOMES (LOT & HOME) LOCATED IN POST FALLS, IDAHO Rewriting the future for middle and upper middle-class families in Kootenai County. A TRAIL-BLAZING DEVELOPMENT.  

IT CAN BE DONE.

This bold project is JUST THE BEGINNING.  Its main purpose is to be a is a community blueprint for how to build, sell and manage Fee Simple Shared Equity Homes. TO PROVE SHARED EQUITY FEE SIMPLE HOMES CAN BE BUILT WITHOUT FEDERAL FUNDING! This is a 3-way partnership.  Think of it as a triangle with 3 essential vertices:

1. THE PRIVATE MARKET BUILDS A SMALL PERCENTAGE OF THESE HOMES IN EVERY DEVELOPMENT.

2.CITIES AND THE STATE PROVIDE COST REDUCTION INCENTIVES FOR THESE HOMES IN RETURN FOR DEED RESTRICTIONS TO ENSURE THE HOMES ARE PRESERVED FOR WORKING HOUSEHOLDS.  

3. PAHA MANAGES THE DEED RESTRICTIONS FOR THESE HOMES UNDER THE FANNIE MAE-APPROVED PROGRAM.

PAHA is the only Fee Simple Shared Equity Certified Program Manager in Idaho Our Certification Number: FM724-0106
FANNIE Certification = ability to sell mortgage loans for these homes on the secondary market.  All mortgage lenders can loan on these homes.

Collaboration between the private market and city/county governments is the feasible way to build these homes. By unleashing the private market's potential, Shared Equity Fee Simple homes will become a reality and access to home ownership for our middle-class working families will once again be possible. 

Britton’s Deed Restrictions Are Simple:
1. Home is designated for a certain income.
2. Home must be owner occupied.
3.A Resale Formula allows wealth creation but protects the home from pricing to current market.

WHY Deed Restrictions?
Without deed restrictions, affordable homes get resold at market value, pricing out future hardworking, middle-class workers. Take Miracle on Britton for example: The benefit of building these homes extends far beyond the first 28 families. This long-term strategy will keep housing aligned with local working wages and prevent the runaway housing costs we’ve seen in Kootenai County and across most of the state. 

Miracle on Britton Partners

Your generous gift can make it happen.

Your tax-deductible donation will give hard-working people in our community the chance to afford a home, a dream that would otherwise be impossible.

Learn how  you can support this project. Please contact Executive Director Maggie Lyons at maggie@pahaid.org or 208.659.3477.

Donate Now

Thank you!

PAHA is proudly certified in Fannie Mae’s Shared Equity Program Platform, with certification identifier FM724-0106. This prestigious certification—through partnership with Grounded Solutions Network—enables mortgages on deed restricted homes managed by PAHA to qualify for sale on the secondary market. Learn more on FannieMae.com
Differences in financial household type and age of householder in Kootenai County:
ONLY when people can afford to live where they work can the small-town flavor and beauty of a growing community be preserved.