Homework Makes The Dream Of Home Ownership Come True By David Grix Recently Builder magazine, the nation's foremost Homebuild ing advocate, recognized the Triad as one of the top 50 new-home markets. At the same time, the magazine honored Fortis Homes as the top single-family home build ing company in the Triad in 1992 in terms of sales volume. Fortis Homes has made a com mitment to do all it can do to get people into the home of their dreams. That goal led them three ^years ago tca institute an innovative program that allows people to put ? down a smaller amount of cash to buy one of their homes. What is unique about the pro gram is that the homeowners them selves are doing many of the tasks usually reserved for construction workers and in the process receiv ing credits that can go toward their downpayment. "Low Cash ? Down ? for Homework," known by many Fortis homeowners simply as the "work equity program," allows people to do some of the work Ah? attention of-Forti^ by-a^ poten tial customer who had heard of its success in Ohio. Within two days, a Fortis representative was on a plane to Columbus, Ohio, to learn "Low Cash Down for Homework, " known by many Fortis homeowners simply as the "work equity program," - David Grix involved in building a new house, such as interior painting, landscap ing and putting up insulation, in return for credit toward a down payment. So far, because of restrictions imposed by the FHA. the program has been used in neighborhoods under SI 00.000 in the Triad, such as North Hampton and Jefferson Woods in the Rural Hall/King area, and Winding Ridge in Winston Salem. The plan was first brought to more about the idea from a con tractor who was using it with great success. The work equity program can ~help people earn credits wortj) between $2,000 and $3,000T*By utilizing the program, they can get into a house with a downpayment as small as $1,500. Homeowners can choose to do all or part of the work to earn those credits. Some people who had enough money for their downpay HOMEBUYERS GUIDE ment have chosen to use the woric equity program to save money for such things as new furniture. Most of the buyers who work on their homes have been young couples who like the program's money-saving potential because many of them also have to make car payments or pay off student loans. ?, * . ? ? < ?