Need for Housing
You will be considered for the Habitat Homebuyer Program if your present housing is not adequate, and if you are unable to obtain adequate housing through other conventional means.
Lack of adequate housing may include problems with the present structure; water, electrical, or sewage problems; inadequate heating; etc. You may also meet the need for housing qualification if you are living in an overcrowded or unaffordable situation. If you are living in transitional or subsidized housing, including Section 8, you may qualify.
Ability to Pay
As you will be buying your house from Habitat, you must demonstrate an ability to pay the monthly mortgage payment on your home. This monthly payment includes mortgage, real estate taxes, and homeowner insurance.
Your income should fall within 25% to 80% of the county’s median income for you family size (see chart). Additionally, you must have at least one year of stable income coming into your house. We can include non-work related income such as disability, child support, TANF, Social Security, etc. as stable income if you can guarantee you will receive that income for the next three years.
All applicants will undergo a credit check. Because we are interested in your access to homeownership, we are not as strict in your credit review as a bank might be. If there has been a bankruptcy in your past, it needs to beat least a year since filing and you must demonstrate improved credit since then. If you have a court judgment or lien , the total must be $500 or less to be accepted to the program (and must be paid off completely before a homebuyer is eligible for a home lot offer). You must have a reasonable level of debt in repayment and collections, and medical bills will not be counted against you.