Homeowners Q&A

1. How much does a Habitat house cost? How much are the monthly payments?

The homes cost approximately $100,000 to $133,000. The down payment is $2,000.
The monthly mortgage payments are calculated at 30% of the applicant and co-applicant's total family income, or about $650-$900. The mortgage payment will include taxes, insurance, garbage fee, and
homeowner association fees, if applicable.

2. How much does it cost to apply for a Habitat home?

A $15 nonrefundable money order (no cash or check) must be submitted with the application.

3. How much interest do you charge on a Habitat home?

Habitat sells the homes at no profit and with 0% (zero percent) interest on the mortgage.

4. Can I apply as a single applicant if I am still legally married but living separately from my spouse?

No. If you are legally married, Habitat requires that both spouses be part of the application
and apply as co-applicants.

5. Can I apply for my children or other family members if they live in another county?

All applicants must live in Miami-Dade, Broward, or Monroe County and must work in Miami-Dade.

6. Can I apply if I have filed bankruptcy?

Yes, but the bankruptcy release date must be at least 4 years old.

7. Do I have to be a US citizen to apply?

To apply you must be a US citizen/resident, or be married to one.

8. What kind of income do I need to qualify?

The maximum income levels are listed below: Minimum qualifying incomes will be considered
on a case-by-case basis.

9. How do I verify my income if I get paid in cash?

In order to verify cash income, you must deposit earnings into the same bank account each
time you get paid. The cash income must be reported on your IRS Form 1040 when you file
taxes. This sort of documentation will make it possible to verify your income.

10. Do I have to have a job to become a Habitat homeowner?

Habitat requires that you receive enough income, through work or disability payments, to be
able to use no more than 40% of your total monthly income to pay both the monthly Habitat
mortgage payments and other debt obligations.

11. Does Habitat require a certain score on a credit report?

Habitat does not use credit scores as a basis for creditworthiness. We look at good debt and
bad debt levels. "Good debt" is an account that is being paid on time; "bad debt" is an
account that has gone to collections. In order to apply, your good debt must be low, and your
bad debt must be less than $1,000.

12. If my credit is good, but my co-applicant's credit is not, can I apply?

Both applicants' credit will be subject to the same criteria.

13. Do I have to help in the construction of the house?

Yes. If selected, you will be required to work one full 8-hour day per week until the house
is completed, which normally takes about 4-6 months. This is what we call “sweat equity.”
A single applicant will need to put in a minimum of 250 hours of sweat equity, while two
applicants will work a minimum of 300 hours.

14. Do I have to know anything about construction?

No. We will teach you and provide expert supervision.

15. How are homeowners selected?

A family selection committee reviews all applicants and follows a non-discriminatory
selection process. Homeowner selection is made without regard to race, gender, age,
religion, ethnicity, marital status, national origin, disability, color, sexual orientation,
or any other legally protected category.

16. Where can I get an application?

You can download the homeowner application here. Or, you can attend a homeowner
information meeting at pick up an application there. Once you've completed it, mail
it to the address at the top of the application with the $15 money order and copies
of all the required documents listed at the bottom of page 4. Please do not send
originals, as documents will not be returned.

17. How long will it take to process my application?

Depending on how accurately the application is completed, processing time can take anywhere
from 2 to 4 weeks

Download and print all relevant documents:

A. Family Selection FAQ (this page)
B. Homeowner Application