STEP ONE – QUALIFICATION GUIDELINES
Find out if your family qualifies to purchase a new West Volusia Habitat home.
Minimum Requirements to Purchase a new Home
- Live or work in West Volusia (military exceptions may apply)
- Have good credit
- Able to pay $1000 down payment toward closing costs
- Able to pay a long-term mortgage
Families must have a significant need for improved housing, such as:
- Living in overcrowded, unhealthy conditions or in a dangerous neighborhood.
- Housing costs are 30% or more of your monthly income.
- Families living in subsidized or temporary housing may also be eligible.
Ability to Pay
- Purchasing a West Volusia Habitat home is a big investment. A family’s source of income must be steady and verifiable. At least one year of steady employment.
- No more than 30% of your monthly income will go towards your monthly housing expenses after you purchase a West Volusia Habitat home.
- A family must be permanent resident of the US.
This table outlines the minimum and maximum income qualifications according to your household size.
Family Size Minimum Monthly Income Maximum Monthly Income
Generally, your family’s monthly gross income is based on family size. Check the graph to see if your family size and income level qualify you. Gross income for all family members who will reside in the home will be reviewed. Gross income means earnings before taxes are taken out. Income includes such things as:
- Wages and salaries
- Child support
- Social Security
- Disability Payments
To qualify, a family’s credit report must show that the family:
- Has low/reasonable amount of debt Has no tax liens
- Has paid off accounts in collection or charge offs
- Has not declared bankruptcy in the last five years.
Concerned about your credit?
Consider working with CLEARPOINT Credit Counseling Solutions, a non-profit, no-cost financial counseling. They can help you learn how to reach financial stability. They have partnered with Habitat for Humanity to provide coaching on everything financial including debt reduction. Call 800-251-2227.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advetising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.