Homeownership
Habitat for Humanity of Greater Palm Beach County partners with first-time homebuyers who demonstrate a need for housing, a willingness to partner, and the ability to repay an affordable mortgage. As part of the program, future homeowners contribute a minimum of 300 partnership hours, helping to build their own home and complete required classes in financial literacy, home maintenance, and first-time homebuyer preparation – equipping them with the knowledge and skills needed for success.
Upon completion of the program, participants purchase their Habitat home through a 30-year, interest-free, affordable mortgage, creating a strong foundation for long-term sustainability and stability.
Homeownership Program Qualifications
Initial Requirements
We highly encourage anyone interested in applying to our program to carefully review the requirements below to determine if they feel they qualify.
All members of household must be U.S. Citizens or lawful permanent residents.
All adults of household (age 18 and over) must be able to pass a criminal background check.
Applicants and co-applicants cannot have had a bankruptcy discharge within 7 years of the application date.
Applicants and co-applicants can not have had a foreclosure within 7 years of the application date.
Applicants and co-applicants must be a first-time homebuyer (not owned a home in the last 3 years, except a mobile home) or be a displaced spouse due to domestic violence or divorce.
Applicants and co-applicants must be willing to live in the cities and neighborhoods where we will be actively building and/or selling homes.
Need for Housing
Individuals and families are considered for our Homeownership Program if their current housing is inadequate and they are not able to obtain adequate housing through other conventional means. The total household income (including any adult living in the home 18 years of age and over that has an income) will also be verified to determine need.
Lack of adequate housing may include:
Problems with the home or apartment's structure, water, electrical, sewage system, heating/cooling, hazardous substances, or failure to meet city property maintenance standards.
The home or apartment may be:
Overcrowded
Unaffordable (if the applicant/co-applicant spends more than 30% of their gross monthly income on housing)
Government subsidized (e.g. housing authority or section 8 housing)
Transitional (individual or family currently living with a family member or friend)
Ability to Pay a Mortgage
Applicants and co-applicants must demonstrate that they have stable and sufficient income in order to pay a minimum mortgage on the home they would like to purchase.
Applicants and co-applicants must be able to
Earn an annual income that falls within 30% to 80% of area median income as determined annually by HUD. In order to qualify, each Habitat GPBC home area may have a specific income requirement.
Provide proof of stable income for the last two (2) years (e.g. tax returns, w2, 1099, paystubs, bank statements, etc)
Provide history of paying bills on time
Sustain a savings account.
Be able to afford a minimum mortgage repayment as established by Habitat for Humanity of Greater Palm Beach County
Have an acceptable credit history.
Have no accounts in collections, charge-offs or unsatisfied public records on credit history.
Save and contribute $6,000 toward your escrow (1st year of homeowner's insurance, taxes for your home and additional closing costs).
Willingness to Partner
Applicants, co-applicants and their families must be willing to join in an ongoing partnership with us while in the Homeownership Program and after purchasing their home. Applicants and co-applicants will be expected to register for and volunteer for a minimum of 300 tracked partnership hours (per each household applicant).
They must work in partnership with the organization by:
Assisting in the construction of the homes currently being built
Volunteering at local community non-profit organizations.
Volunteering at our ReStores
Assisting with our Neighborhood Revitalization Home Repair Program through painting, critical repair or weatherization projects
Attending all mandatory educational workshops and meetings to learn homeownership skills, home maintenance, financial management, etc.
Participating in public relations/ marketing efforts to help raise awareness and funds.
Acting as an ambassador and example in their community to improve their neighborhood.
