habitat for humanity
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DESCRIPTIONHabitat for Humanity. Habitat is an ecumenical Christian housing ministry dedicated to selling affordable houses to qualifying partner families. Habitat for Humanity. Home Ownership is filled with • Joys • Responsibilities. Brookings Area Habitat for Humanity. You can buy a home! - PowerPoint PPT Presentation
Habitat for Humanity Habitat is an ecumenical Christian housing ministry dedicated to selling affordable houses to qualifying partner families
Habitat for HumanityHome Ownership is filled with Joys Responsibilities
Brookings Area Habitat for HumanityYou can buy a home!Affordable Habitat does not make a profitHabitat charges NO INTERESTSolid, reliable program building homes since 1995
Affordable housing is our priorityHouse Selling Price will be approximately:3 Bedroom $55,000 (approximately $325/mo)4 Bedroom $60,000 (approximately $375/mo) including property taxes and homeowners insurance
Partnership is key to successHabitat will:Build a house with youSell you the house with a no interest loanProvide opportunities for you to learn the skills you will need to own a home
How does Habitat for Humanity work? Meet Eligibility RequirementsPay $700 deposit for down payment and closing costsAttend WorkshopsBuild a Home -- Sweat EquityMake House PaymentsFund for HumanityBuilding EquitySecond Mortgage
How does Habitat for Humanity work?Specific House Design Criteria modest size, simple design, sale price includes cost of all materials including in-kind donations. Most of the labor is donated.Application Process documents and a home visit3 Selection CriteriaNeedAbility to PayWillingness to PartnerSweat EquityAttend Workshops
Eligibility Criteria Income Guidelines Application Home Visits Notification Number of families selectedbased on greatest need and Habitats construction capacity
Need CriteriaBelow Upper Income Limit (less than 70% of average median income)Overcrowded Living ConditionsSubstandard Living ConditionsCost Burdened
Ability to PayMinimum Income GuidelineDebt to Income RatioNo Liens or Judgments Consistent Payment HistoryAble to Save for Closing Costs
Sweat Equity -- 300 to 500 hoursAssist with Construction Attend Workshops:Homebuyer Express/CCCSOthers as availablePerform Other Sweat Equity TasksAttend budget counselDevelop budget for homeownershipWillingness to Partner
Habitat for Humanity House Design
Habitat is not a custom home builderSquare footage: 925 to 1100 square feetNo garages or car portsOne bathroomNo dishwasher or central airYou may not have a choice about the locationYou may not have a choice about floorplan No basement unless necessary
After the closing Set goals for improvements/additionsPrioritize their level of needSave carefully and wiselyImprove your home as you can afford itEnjoy this beautiful home of your own!
You may be asking yourselfHow many hours a week will I commit to working with Habitat?
Who might help?
Am I willing/able to wait 10 to 18 months to move into my home?
Home Ownership and HabitatPaymentsDown Payment $700 in advanceMortgage Payments $$250 - $300(including taxes and insurance)Mortgage length depends on your ability to pay at time of closing 15 to 30 yearsPrepare formoving costs including utility hook-ups,lawn mower, lawn/garden tools, household items.
You may be asking yourselfAm I willing and able to save $75-100 a month now to pay the required deposit on time?
Mandatory Workshops/MeetingsPartnership Agreement and Basic House DescriptionBudgeting and financial managementWhat it means to be a homeownerHow to maintain your homeFrequent meetings with your sponsor and Building CommitteePreparing for the Closing and Understanding Your Mortgage
Home Ownership and HabitatBuilding a HomeWith friends and familyWith community volunteersWith lots of instruction and help
Home Ownership and HabitatHear What HabitatHomeowners have to say . . .
Debt-to-income Ratio How much money do I owe?School loansCar loansCredit cardsOther misc. bills
Department store cardsMedical bills
Compare Debt to Income LevelExample:Monthly net income (after taxes, ins., etc.) = $900Debt payments per month = $ 95Mortgage Payment (max 28%)= $250Debt to income ratio = 38%Acceptable ratio is 40%
How to ApplyComplete application todayProvide all documentation in one weekExpect home visit in two to three weeksNotification of acceptance in six weeks
Please Know thatSome families apply 3 or 4 times before they become eligible.
We WANT to work with you. If you are not accepted the first time, please come back!!
Next Steps Make sure: Your name is on the sign-in sheet.You fill out an application.The application and ALL paperwork is in the Habitat office by June 21. We can reach you by telephone!
Next Steps You should hear from us within 4-6 weeks after we get your COMPLETED application.
Call 692-5601 if you have questions.Monday through Thursday office hours.Brookings Area Habitat for HumanityThanks you for your time !
Brookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityYou can add your own title to this slide if you would like same many of the next slides Family Selection OrientationBrookings Area Habitat for HumanityAdd in your local house prices It may be prudent to use a Not to Exceed amount, particularly if the affiliate is not certain about the house price.Family Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityThis slide can be deleted or used as an intro to the next sectionFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityPlease adjust this slide to reflect your affiliates programFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityPlease add in the specific application steps for your affiliate. Please remember to mention a home visit and the purposes for the home visitFamily Selection OrientationBrookings Area Habitat for HumanityFamily Selection OrientationBrookings Area Habitat for HumanityPlease add in your affiliates application deadline dateFamily Selection OrientationBrookings Area Habitat for HumanityIf you decide to use this slide be sure you define what completed means.
Family Selection Orientation