Go To PARTNER FAMILIES
The Home Ownership Program is currently closed.
Applications will be available February 1st - March 31st, 2016.
REQUIREMENTS FOR THE HOME OWNERSHIP PROGRAM:
- Have a need for shelter.
- Have acceptable credit (No unpaid collections or judgments)
- Bankruptcy must be discharged for 1 year
- Have the ability to pay a monthly mortgage & have steady income for 1 year.
- Be a 1st-time home buyer or non-homeowner for 3 or more years.
- Live or work in Rutherford County for at least 6 months.
- Be unable to qualify for a conventional loan due to income level.
- Show willingness to partner with Habitat.
- Be able to pay a $1500.00 down payment/closing cost.
- Be willing to perform 300-400 hours of “sweat equity" by helping to build Habitat homes, including your own.
- Complete a mandatory 30-Week Home Buyer Education Class.
- Maintain and/or decrease “debt to income” ratio while in the Habitat program.
- Meet the current years income guidelines. The following is 2015. These guidelines may change for 2016. Unfortunately, the Home Ownership Program is not emergency housing. It can take anywhere from 9-18 months to complete the program to purchase and move into your new home.
PHASES OF THE HOME OWNERSHIP PROGRAM
Phase 1 - Apply
- Meet the Requirements
- Return Application
- Credit Review
Phase 2 - Documentation
- Submit Requested Documentation
Phase 3 - Verification
- Employment & Rental Verification
- Sex Offender & Criminal Verification
- Home Visit (if selected)
- Family Selection Review
- Board of Directors Review
Phase 4 - New Partner Family
- Work Sweat Equity
- Home Buyer Education & Budget Class
- Start Down Payments
Phase 5 - Home Selection
- Lot Selection
- House Plan Selection
- Home Selections
- Purchase Agreement
- Begin Build Date
Phase 6 - H.O.M.E Purchase
- Homeowners Insurance
- Home Dedication
- Closing Purchase
- Move In!
Home Buyer Education
Partner Families are required to complete 30 weeks of Home Buyer Education - great information and resources to prepare them to buy their homes, improve their credit, make good consumer choices and keep up with home maintenance. This program is also FREE to the general public! The Home Buyer Education Class is held every Monday, 6:00-7:00 pm at the Habitat office beginning April 6, 2015.
If you have questions about the Home Ownership Program, please contact the Family Services Coordinator, Angie Ezell.
|Our current Habitat Build #129 for Makeshia & her son Camden|
Habitat Build #130 scheduled to begin Sept 2015 for Christina, her son Trevon & daughter Andrecia!
House #128! Congratulations to the McCullough Family!
We replace these eye sores...
...with beautiful Habitat Homes
Did You Know?
sign in with your Kroger Plus Card # (or sign up for the card). Add our organization number: 66757 - or Rutherford County Habitat for Humanity and whenever you shop, we'll get a % donation (it all adds up!) Thank you... and shop often!Shop at Amazon's Amazon Smile and select Habitat for Humanity of Rutherford County (TN) and they'll donate .5% back to us! It's easy and all adds up!
The House That Jack Built