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Family Selection Criteria Housing Need: This is the primary consideration for selection. "Housing need" is to be interpreted broadly and includes overcrowding, structural or mechanical defects, excessive cost, and unsafe neighborhood environment. Ability to Repay: The criteria include the following: 1) That the applicant family earns less than the maximim family income, listed below:
2) That there is sufficient income to make monthly mortgage payments. (How much do the homes cost?) 3) That the applicant can make a down payment of approximately $1,500 prior to occupancy of the house. 4) That there is a favorable debt history, or that efforts to resolve any unfavorable credit are being made. 5) That there has been satisfactory management of any bankruptcy filed within the last 7 years; however, bankruptcy filed within the last year will result in an application's automatic disqualification. 6) That the applicant’s monthly debt-to-income ratio does not exceed 40%. (Debt includes projected mortgage payment.) Willingness to Participate in the Habitat Program: An applicant must be able to fulfill the following: 1) Weekly assistance in the construction of his/her home. Single head of household applicants must contribute a minimum of 250 hours of sweat equity. Double head of household applicants must contribute a minimum of 300 hours. In cases of disability, alternative tasks will be assigned. 2) Participation in a series of homeowner training workshops. Residency: Applicant families must be either permanent residents or citizens of the United States. Applicants must have resided in Miami-Dade County for twelve months prior to applying with Habitat. Nondiscrimination: Family selection will be made without regard to race, gender, religion, ethnicity, marital status, or any other category for which discrimination in housing transactions is illegal. |
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