How the Habitat Homebuyer Program Works: Habitat for Humanity offers a homebuyer program to qualified low-income individuals and families in the Fox Cities. Habitat extends a 0% interest mortgage loan. Monthly mortgage payments include repayment to Habitat for the home (principal), as well as for property taxes and home insurance (escrow).
Habitat Homebuyer Readiness Info Sessions
Habitat will host a brief 1 hour Homebuyer Readiness informational session. We will cover general information about Habitat’s housing ministry and how applicants qualify to purchase a home with Habitat. If you want to learn more about Habitat before you apply, please join us! Please feel free to contact Habitat if you have any questions.
The next meeting dates are: February 4th, 2020 at 10am En Español. February 5th, 2020 at 10am and 6pm.
Qualified applicants will need to meet the Selection Criteria and other requirements listed below:
Applicants must be in need of housing due to any of the following situations:
Habitat will evaluate applicants’ household income and debt.
Applicants must be comfortable with a monthly mortgage payment from $550 to $950 (depending upon income) and must have enough income through stable employment or other forms of permanent income to afford a home and all basic living expenses.
Income includes all wages, unemployment (only if related to seasonal employment), social security, pension and/or disability. Self employment income is defined as the “Net Profit” [line 31, Schedule C (1040)]. Income can also include child support, kinship care, and other types of income which is received on a regular basis and is needed to cover monthly expenses. All income sources are included when they are expected to last for three years or longer.
2019-2020 Income Guidelines are based on family size. Your gross annual income must be at or above the minimum and at or below the maximum.
Applicants’ credit history does not need to be perfect. Many applicants have some debt. Is it important for applicants to know how much is owed and for the total amount of debt to be manageable.
Applicants must be willing to work in partnership with Habitat with their positive and active involvement in the Homebuyer Sweat Equity Program. Applicants must be willing to complete 300 to 500 hours of sweat equity by attending classes and workshops, working at the Habitat ReStore, participating in Habitat or ReStore events, and building on other homes as well as their own.
*Accommodations for health and employment issues will be made on a case by case basis
Individuals interested in home ownership through Habitat will need to complete and submit a pre-application document along with a $25 application fee (one fee per application) when pre-applications are open.
Pre-application period: February 5-19, 2020.
Pre-applications are available at Habitat for Humanity’s office, located at 921 Midway Road, Menasha.
Pre-application steps to complete:
*Every adult (over 18 years) must sign a general release form. All married couples must sign a joint release form.
*Pre-Applications submitted electronically or without pre-application fee will be considered incomplete.
Our Family Services staff can work with you to find where you are at in your home-ownership journey and provide appropriate resources.
For email inquiries: HomeBuyer@FoxCitiesHabitat.org