Habitat Homeownership

How Does Habitat Homeownership Work?

Habitat offers homeownership to hardworking families who may not otherwise be unable to purchase a home of their own. Habitat homeowners purchase their home directly from Habitat through a zero-interest, zero-profit loan.

A typical mortgage payment, including taxes and homeowner's insurance, is only $450. Habitat homeowners build equity through owning their own home. All Habitat homeowners are required to invest 350-400 hours of sweat equity during the construction of their home and the homes of other Habitat families. In this way, neighbors meet neighbors long before they move in and develop firm and cooperative friendships. Homeowners' monthly mortgage payments are used to build more Habitat homes!

How Can I Qualify?

Applicants must meet these three basic requirements:

• Need - The family doesn't own a home and without Habitat they could not own a home.
• Ability to pay - All of our families must be within Habitat income guidelines and have had a steady income for at least 6 months.
• Willing to partner - The family must complete 350-400 hours of sweat equity building and volunteering in the community.

Applicants must also be able to meet the following requirements:

• Live/work in Denton County for at least one year
• Demonstrate stable income for the past six months
• Must have a satisfactory credit rating
• Must pass a criminal background check
• A family's debt cannot be more than 40% of the family's income
• Have no unpaid judgments nor have wages garnished for bankruptcy. Collections must be less than $1000.
• Be willing to perform 350-400 hours of sweat equity, partnering with Habitat to help build your home and other Habitat homes.
• Family must currently live substandard housing or classified as homeless

Where Do I Begin?

Families interested in homeownership must attend a Habitat Homeownership information meeting, and applications are only distributed at these meetings sessions. To be notified about our next orientation, call 940-484-5006.