Who Are Habitat Home Applicants?
Indian River Habitat for Humanity builds affordable homes for low-income families who have a need or live in substandard housing.
Homeowner Applicants must have a need, the ability to pay and the willingness to partner. They must also:
- be a legal resident of the United States
- be current on any non-medical debt
- be a resident of Indian River County for at least one year (or work in IRC)
- have held a lease in their name for a minimum of one year
- have an income based on the income guidelines listed below (see chart)
- be able to make payments on an interest free mortgage of approximately $450/month
- contribute 300-500 hours of sweat equity
- attend educational classes on topics such as home maintenance/construction, budget and finances, legal issues and neighborhood relations
Based on 2018 HUD data.
*number of individuals
- Inadequate housing – problems with the present structure such as: water, electrical or sewage service systems; heating; hazardous; poorly maintained (substandard); or failure to meet city property maintenance standards.
- Overcrowded – family sized compared to the number of bedrooms in the home.
- Transitional – currently living with a family member or friend.
- Government Subsidized – housing programs such as: Section 8, Low Rent Program.
- Unaffordable – more than 40% of one's income spent on rent.
ABILITY TO PAY
- Must have adequate income to cover utilities, maintenance expenses, as well as the mortgage payments, which include taxes and insurance. (Please refer to the income guidelines listed above.)
- Must demonstrate the ability to pay a $400 to $500 per month on a interest-free mortgage.
- Must have less than $3,000 in bad debt on your credit report in the past 24 months.
- Owe less than 41% of gross annual income in total debt.
- Must show a record of paying rent on time.
- Have a stable income for the last year.
- Have not declared bankruptcy in the last 3 years.
WILLINGNESS TO PARTNER
- Applicants must be willing to partner with Habitat and work 300 hours of “sweat equity” for a single adult household or 500 hours of “sweat equity” for a dual adult household.
- Must attend the required homeowner classes as scheduled.
- Be willing to pay-off or catchup on deqlinquent debt prior to purchasing home.
- Be able to save a minimum of $2,000 towards closing costs.
- Be responsible for house maintenance after the move in date.
- Be responsible for repaying the purchase cost of the home in a timely manner so that other families can benefit from the Habitat program.
“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.”