Homeownership
Have you ever wondered if YOU could purchase
an Our Towns Habitat house?
You are invited to our next
Homeowner Info Session
Saturday, July 12, 2008 10:00 a.m.
Our Towns Habitat office, Cornelius
Contact:
Lareka Knox , 704-896-8957, ext. 1106
Miranda Morris , 704-896-8957, ext. 1101
Read on to see if you and your family might qualify:
Habitat Homeowners are selected based on the following
criteria:
Need for adequate housing:
- Current housing is sub-standard
- Overcrowded living conditions
- Current neighborhood unsafe
- More than 30% of monthly income spent on housing
- Maximum income 60% area median income
Ability to pay for a Habitat home:
- Gross income of at least 35% median income
- Family must have stable income
- Applicants must have a legal right to work in the
United States
- Maximum debt to gross income ratio should not
be more than 40%
- Must be able to pay a cash down payment (1%) at
closing
- Meet Habitat's minimum credit history requirements
Willingness to partner with Habitat:
- Applicants need to have lived or worked
in Mooresville, Davidson, Cornelius, or Huntersville for the past
year
- Attend 8 evening Homeowner-In-Process
(HIP) 2 hour workshops
- Invest "sweat equity hours" in the
construction of your home and in helping to build other Habitat
Partner homes. Hours are based on family size
Families must meet the Our Towns Habitat income guideline
listed below for annual gross income:
| Family Size* |
Gross Income Range |
| 1 |
$14,117 - $27,000 |
| 2 |
$16,100 - $30,900 |
| 3 |
$18,142 - $34,700 |
| 4 |
$20,125 - $38,600 |
| 5 |
$21,758 - $41,500 |
| 6 |
$23,333 - $44,700 |
| 7 |
$24,967 - $47,900 |
| 8 |
$26,542 - $51,000 |
*Number of family members who will be living in the home.
For example, if you are a family of 4 and earn between $20,125 and $38,600 a year, and have lived or worked in Mooresville, Davidson, Cornelius, or Huntersville for the past year, go to the Application Process for more information or contact:
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