Eligibility Criteria
Applicants must meet the following criteria to be eligible for Habitat for Humanity of Broward’s homeownership program:
- First-time homebuyer
- US Citizen or permanent legal resident of the United States (applies to all household members)
- Current resident of Broward County for at least one year
Applicant’s Needs
Must meet at least ONE of the following:
- Inadequate housing—problems with the present structure such as: water, electrical, sewage system, heating, hazardous, poorly maintained (substandard), or failure to meet city property maintenance standards
- Overcrowded—family size compared to the number of bedrooms in the home
- Transitional—currently living with family member or friend
- Inability to Pay; Unaffordable—more than 30% of monthly income being spent on rent
Must meet ALL of the criteria below:
- Possess adequate income to cover utilities, maintenance expenses, as well as the mortgage payments, which include taxes and insurance.
- Demonstrate the ability to pay an interest-free mortgage (monthly minimum of $1,150 – principal, taxes, and insurance, not to exceed 30% of gross monthly income.)
- Receive total household income that does not exceed HUD guidelines for 80% Area Median Income based on household size. Google: HUD income limits 2019 – State of Florida/Broward County for further information.
- Total monthly debt payments (including housing) cannot exceed 45% of gross monthly income.
- Show a record of paying rent and other bills on time.
- Stable income (within the income guidelines) for the last two consecutive years or more
- Have not declared bankruptcy within the last 3 years.
- Willingness to Partner
Must meet ALL of the criteria below:
- Work a minimum of 300 hours of sweat equity (building homes).
- Attend ALL mandatory homeownership classes, as scheduled.
- Be able to contribute $2,000 towards closing costs.
- Maintain property after the home is purchased.
- Repay the purchase cost of the home in a timely manner.
