Qualifying for a Home
July 8th; 10 a.m. – ReStore Conference Room
August 12th; 10 a.m. – ReStore Conference Room
Family Selection Criteria Based on the following:
- The gross household income must be between 30% and 60% of the median income for the La Plata County area for the past year. The median income figure varies depending on the size of the family.
- Two-year history of stable income.
- Monthly long-term debt payments, including estimated mortgage payment, should be less than 41% of a family’s income.
- An acceptable history of credit and a good record of paying rent and utilities.
- Ability to cover closing costs (approximately $2,500).
- Applicant must be a U.S. citizen or a permanent resident. This applies to all applicants.
- Be willing to contribute 250-500 hours of sweat equity toward the building or renovating of Habitat homes (special accommodations may be made available upon request).
- Be willing to participate in the Home Maintenance Savings Plan.
- Be willing to live in the neighborhood in which Habitat is currently building and follow city and subdivision regulations.
- Be willing to be a participating member of the Homeowner’s Association (if applicable).
- Attend required workshops for success in homeownership.
- Lack of decent and safe living conditions as identified by the Habitat for Humanity housing evaluation criteria.
- Overcrowded housing conditions.
- Excessive home rental expense. A family should not have to spend more than 30% of its income for housing, not including utilities.
- Applicants must have incomes that are too low to enable them to secure conventional financing from a traditional lending institution.
“We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.”