Able and willing to pay an affordable mortgage
We encourage applicants to pull their FREE credit report from www.annualcreditreport.com to understand their debts and any barriers to becoming approved.
The ability for you to afford your mortgage is essential to qualifying for a Habitat home. We want you to thrive in your new home for years to come.
Habitat ensures that the monthly mortgage payments do not exceed 30% of the homebuyer’s gross monthly income at closing. Mortgage payments are cycled back into the community to help build additional Habitat houses.
Each mortgage is tailored to the buyer, and any subsidy is provided as a zero-interest, forgivable second mortgage.
Qualifying for a loan with one of our partner agencies
If you're applying for a USDA 502 loan through our program, please note:
- A $30 cashier’s check (made payable to USDA) is required to cover your credit check. This is only for the USDA application, not the Habitat application.
- A cash requirement of approximately $1,000 (usually covering the first year of insurance) is typically needed. This can be paid over time before your home closing.
If your credit needs improvement, that’s okay. We can connect you with trusted resources to help you get ready to apply. We’re here to walk alongside you on the journey to affordable homeownership—one step at a time, together.
