When Brooke Shannon and her husband moved to Gatlinburg to open an artist shop, they first lived in a small attached apartment in the bustling downtown without a full kitchen. Soon after starting their search to buy a house, they had a firm deadline they wanted to meet: Brooke was pregnant and they were determined to welcome their son into a new home. The staff at Clinch-Powell Resource Conservation & Development Council helped them meet their goal in a very tight real estate market.
“The whole team at Clinch-Powell cradled us to get us in a home,” said Brooke. “Our options were so limited, but every step of the way they held our hand in a way that felt empowering.”
Clinch-Powell is a national leader in packaging USDA loans, serving 60-70 new home buyers across Tennessee a year. The 502 direct loans are a hand up, not a hand out, offering a longer term and a subsidized rate which decreases as incomes increase. Brooke is experienced in social work and was impressed with the range of resources the staff accessed. To expand the family’s options, they also received a USDA 523 Self-Help loan. While geographically limited to just one county in the area, it opened up homes that weren’t quite move-in ready. Clinch-Powell’s own work crews were able to complete the necessary repairs on the home they purchased, small projects like replacing duct work, installing flashing on the chimney, updating the electrical system, and replacing the windows. The Shannon family moved into their updated new home exactly a week before their little one entered the world. It gives the family room to grow and helps them build wealth, and the staff at Clinch-Powell is keeping an open door to support them in their new role as homeowners.
