Program Requirements

Participants in our Homeownership Program must meet the criteria outlined here:

1) Need for Housing

You cannot currently own a home or have owned a home in the past three years.

Furthermore, ONE of the following needs to be true:

• You have inadequate shelter due to problems with heating, water supply, electricity, etc.
• You are living in overcrowded conditions
• You are spending more than 40% of income on housing (rent + utilities)
• You are residing in a drug or crime-infested and unsafe neighborhood
• You are residing in Section 8 or Public Housing
• Your residence is not secured by an official lease agreement

2) Willingness to Partner

Future Habitat homeowners prepare for homeownership through education courses and volunteering to help build affordable homes.

• Complete required “sweat equity” activities
• Accept a home built by HabiJax
• Work with a partnering lender
• Be a good neighbor and representative of HabiJax

3) Ability to Pay

Home should not be a burden. Here’s what you will need to demonstrate an ability to pay:

• Meet the monthly income range for your household size (see table below)
• Work with lending partners to receive a pre-approval
  • Meet a minimum credit score requirement of 580
  • Have no more than $500 of delinquent debt (unpaid debt sent to collections)
  • Have at least $2,000 in savings at the time of your application
  • Have maintained full-time employment for at least 1 year or part-time employment for at least 2 years
• Make a down payment of 1% of the purchase price of the home
• Continue monthly mortgage payments per your lender agreement