How to Apply
The Habitat homeownership program looks for three things when determining if an applicant is eligible to participate: need, affordability and willingness to partner.
We believe these are the key ingredients to creating a successful homeowner.
Please read below to learn more about the journey to homeownership from start to finish!
2 If you discover homeownership is right for you, you will receive an application to complete and return. To request a printed application, please leave your contact information on the homeowner hotline at 317.777.6080 so that we can return your call. After answering some preliminary questions, our staff will send you an application. You will be asked to return the completed application along with certain documents and a $50 application fee.
Your application will be reviewed and it will be determined if you meet the necessary requirements to move to the next round. If you are approved, you will be asked to participate in a home visit. If not, you will be given a reason for the denial and may be asked to reapply at a later date.
3 A staff member will conduct a home visit to determine approval. After the home visit, one of three decisions will be made: you will be accepted and asked to participate in the traditional homeownership program; you will be accepted but asked to complete the INHP Bridge to Homeownership program before starting the traditional program; or you will be denied. All denials will be encouraged to correct the items that caused disqualification and reapply at a later time.
4 Approvals will be asked to sign a Partnership Agreement and can begin earning sweat equity immediately. Each partner family is required to contribute at least 300 hours of sweat equity toward the home. Sweat-equity hours include homeownership education, financial education, and volunteer hours building your house and working on other Habitat homes. Classes are held at the Habitat main office on Thursday evenings in addition to a few Saturdays.
5 Addresses are typically selected in February or March. Upon selection of an address, a partner family will be asked to sign a purchase agreement and pay $1,200 for closing costs.
6 Time to make the house a home! Upon the completion of the home, you will sign closing documents and become a Habitat homeowner! After moving in, you will be expected to pay your mortgage on time every month, on average $350-450 as well as keep up the maintenance on your home.