RoxanneYou can get your family into a new, affordable, cost-efficient home via Habitat for Humanity housing. This is excellent news if you’ve tried the regular route of real estate agents and lenders to buy a new home with no luck.
Are Habitat homes free? No, as you will have to go through an application process and pay a mortgage on them if you qualify. Luckily, Habitat mortgages are often very affordable, and you could end up in a house that costs just $500 per month, depending on where you live.
What are the qualifications and application process like for Habitat homes? Let’s go over that now, using the Atlanta, Georgia, Habitat program as an example.
Since each Habitat affiliate operates with its own requirements, go here to find you the specifics for your area.
This article is just meant to be used as a quick guide to open your eyes to the possibilities of owning a Habitat for Humanity home.
An Example of Requirements for Habitat for Humanity’s Homebuyer Program
According to the Atlanta Habitat’s website, here are the basic requirements for homeownership:
- You must either be a first-time homebuyer or fall under certain exceptions.
- You must be a U.S. citizen or permanent legal resident.
- The size of your household must be between one to eight people.
- You must be willing to partner with Habitat, which means providing “sweat equity” that includes helping to build your home or somebody else’s. You may also be required to attend monthly homeowner counseling sessions and fill other responsibilities.
Up next are the income requirements for Atlanta Habitat for Humanity housing. In general, you can qualify for the program as long as your steady income is neither too high nor too low.
Here’s how that sliding scale looks for the Atlanta area as it relates to gross annual income:
Family Size:
- 1 person: $24,840 to $44,640
- 2 people: $24,840 to $51,000
- 3 people: $24,840 to $57,420
- 4 people: $26,040 to $63,780
- 5 people: $28,440 to $68,880
- 6 people: $32,580 to $73,920
- 7 people: $36,730 to $79,080
- 8 people: $40,890 to $84,120
You can find yours by entering your zip code or state at this here.
Besides income, other financial factors could be considered, such as:
- A history of savings.
- Decent credit history with an emphasis on overall payment history instead of score.
Atlanta’s Habitat program requires any past due non-medical debts to be paid down to a maximum of $400 before applying.
Habitat for Humanity Housing’s Approval Process
If you live in the Atlanta area, here’s what your approval process would look like. While it may be similar in other locations, be sure to check with your local affiliate to play it safe before applying.
1. Go to an information session.
Here you will learn about the program, get an information packet, and meet with a Habitat team member.
2. Set up an application appointment.
After your meeting, a team member will contact you to set up an official appointment to fill out an application.
3. Complete your application.
Be sure to bring all the necessary documents to your appointment. If you forget any, you may not be able to proceed with the process.
4. Complete an interview in your home.
Members of the Habitat’s Family Selection Committee will conduct an in-home interview where you currently live to see if you qualify.
5. Get approved.
Once approved, you will have to attend an orientation and other classes, set up the deposit on your home, and start putting in those sweat equity hours (which total 250 in Atlanta).
