homeownership program qualifications
QUALIFICATIONS FOR OUR HOMEOWNERSHIP PROGRAM
We highly encourage anyone interested in applying to our program to
carefully review the requirements below to determine if they feel they qualify.
carefully review the requirements below to determine if they feel they qualify.
(Kreyòl)
Pou li kalifikasyon pwogram nou an, tanpri ale anba paj sa a.
Pou li kalifikasyon pwogram nou an, tanpri ale anba paj sa a.
(Español)
Para leer los requisitos de nuestro programa en español, por favor vaya a la parte inferior de esta página
Para leer los requisitos de nuestro programa en español, por favor vaya a la parte inferior de esta página
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 OUR 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:
- 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
- Be able to afford a minimum mortgage repayment as established by Habitat for Humanity of Greater Palm Beach County
- Have no accounts in collections, charge-offs or unsatisfied public records on credit history.
- Save and contribute $2,000 toward your escrow (1st year of homeowner's insurance and taxes for your home).
- Pay additional closing costs up to $3,000
NEED FOR HOUSING
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 sweat equity hours (per each household applicant) and 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 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.
INCOME LIMITS TO DETERMINE ABILITY TO PAY
ADDITIONAL REQUIREMENTS
- Applicants or co-applicants must live or work in Palm Beach County for the last 12 consecutive months.
- All members of household must be U.S. Citizens or Permanent Residents.
- Applicants and co-applicants can not have had a foreclosure within 4 years of the application date.
- All adults of household (age 18 and over) must be able to pass a criminal background check.
- 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 can not have had a bankruptcy discharge within 4 years of the application date.
- Applicants and co-applicants must be willing to live in the cities and neighborhoods where we will be actively building and/or selling homes.
(Kreyòl)
Pou li kalifikasyon pwogram nou an, tanpri ale anba paj sa a.
Pou li kalifikasyon pwogram nou an, tanpri ale anba paj sa a.
(Español)
Para leer los requisitos de nuestro programa en español, por favor vaya a la parte inferior de esta página
Para leer los requisitos de nuestro programa en español, por favor vaya a la parte inferior de esta página
(Kreyòl)
Eske ou prè pou ou kapab pran premye etap la?
(Español)
¿Listo para dar el primer paso?
(Kreyòl)
Kesyon yo poze souvan
(Español)
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