A local Family Selection Committee selects potential homeowners. Selections are based on three principles:
1. Need for Adequate and Affordable
Shelter:
A family will be determined to be “in need” when…
· Current shelter has problems with
the heating system, water supply, electricity, bathroom(s), kitchen structure,
etc.
· Current shelter has an inadequate
number of bedrooms as determined by number, ages, and sex of household members.
· The current neighborhood is
unsuitable (unsafe or unsanitary).
· The family is unable to obtain a
conventional or government assisted mortgage loan to purchase a home due to
their income level.
· The maximum household gross income
is less than 50% of the median family income for the community.
2. Ability to Pay:
A family will be determined to be eligible if…
· The family has a minimum household
gross income of 25% of the median family income for the community.
· Cash down payment of One hundred
dollars ($100.00) must be received before construction of the family’s house
can begin. A family selected for a
Habitat home must pay good faith earnest money as required by the National
Habitat Headquarters. A selected family
must pay closing cost totaling 2% of the anticipated mortgage amount. A selected family must begin monthly
payments of the down payment and closing cost to Habitat as soon as the board
approves them.
· The family must have the ability to
make monthly house payments along with the current debt. The total mortgage payment, taxes,
insurance, and all debt should not be greater then 36% of the total income.
· The family must have references and
credit history satisfactory to the Family Selection Committee. All judgments must be cleared prior to
closing.
· Household income must not be
threatened by home ownership.
· The family meets the income
guidelines Based on HUD income limits for Washington County.
3. Willingness to Partner:
An approved applicant must be willing to partner with Habitat
by…
· Completing 400 hours of sweat equity
before closing.
· Maintaining their home upon
occupancy.
· Participating in Habitat’s nurturing
program to learn and practice budgeting, home repair, and maintenance, etc.
· Sharing their story, upon request,
with the media, local individuals and organizations.
· Attending Habitat Homeowners Association meetings.
Springdale Habitat for Humanity
Park Street
Springdale, Ar 72764
Phone: 872-1300
E-mail: [email protected]