How to Qualify
The Habitat Homeownership Program looks for three things when determining if an applicant is eligible to participate: need, affordablity and willingness to partner. We believe these are the key ingredients to creating a successful homeowner. You can learn more about program qualifications by attending our next Keys to Homeownership Session on Saturday, November 14th at 9 a.m.
Do you have NEED?
Need can come in a variety of forms. If you are first-time homebuyer or have been renting for 3+ years and face a variety of issues, you would be considered to have need of a new home. Such issues can include cost burden hardship, overcrowding, unsanitary conditions (mold, pests, leaky roof, etc.), poor structure (plumbing, electrical, inoperable kitchen or bathroom, etc.), or other home issues.
Do you show AFFORDABILITY?
Since each homeowner purchases the Habitat homes with a mortgage, it is required that any applicant would be able to make that payment without being cost burdened. Therefore, we require a stable income which can include payment from work, food stamps, SSI, disability, retirement, etc. The gross annual combined income must meet the guidelines in the chart below (2015 AMI). Along with income, an applicant must meet credit guidelines, which include a debt-to-income ratio of no more than 40 percent, no judgements or liens, a consistent and on-time payment history and bankruptcies discharged for at least two years.
|Number of People in Home||Minimum Annual Income||Maximum Annual Income|
Are you WILLING TO PARTNER?
Once accepted, partner families are required to make a commitment to the Habitat for Humanity program. This commitment includes 300 sweat-equity hours required to complete the program and close on a house. Those hours are made up of financial education, homeownership education classes, and hours spent building your own house and the homes of other Habitat participants.