Helpful Steps There are a few ways to prepare yourself to become a homeowner and help you qualify for Habitat’s Program. Check your credit report You can start paying off debts and taking control of your credit score. Free copies are available every year at www.annualcreditreport.com.
Habitat for Humanity of Elkhart County 2526 Peddler’s Village Road Goshen, IN 46526 P: (574) 533-6109 www.habitatec.com
Open an Individual Development Account The state government will deposit at least $3 for every $1 you save. You can use the money toward your house. This is free money, so open one today! La Casa of Goshen (574-533-4450) and the Elkhart Housing Authority (574-2958392) offer these accounts.
After being chosen, families begin working toward their home. Each adult in the family must complete 250 hours of “Sweat Equity”. This includes Financial Peace University, a 13-week financial course, and other home ownership classes such as landscaping, basic construction, and home maintenance. Families will also earn “Sweat Equity” hours by working on each other’s homes as well as on their own. Children ages 16 and 17 must complete 100 Sweat Equity hours. Adults must complete at least 15 hours a month. If you are selected as a Partner Family, you will also need to meet with a staff member at the Habitat office each month. A payment of $40 toward the $700 total down payment will be due on the first of each month.
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Volunteer at Habitat Learn all you can about the program and meet other families like yours already working toward home ownership.
After Selection
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You can own a home! Habitat for Humanity of Elkhart County builds houses in partnership with qualifying families.
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Learn about owning a home La Casa and the Housing Authority offer classes and support for people interested in home ownership. If you’d like to talk to a Habitat staff member, call 533-6109.
IA N A H A BIC
Designed by an AmeriCorps Member
Building Homes! Building Hope!
Homeownership Program Habitat provides the opportunity for families to become homeowners. Our aim is to create an environment of hope, dignity, and a truly human existence for all people.
Habitat’s Mission Habitat for Humanity of Elkhart County, Inc. is a non-profit organization working in partnership with God and people from all walks of life to build quality, sustainable, and affordable homes in which people can live and grow into all God intends.
Habitat is not a handout, it is a hand up. Zero percent interest mortgage loans keep the homes affordable. Habitat makes no profit, and mortgage payments are used to build more homes. Habitat builds simple, decent, energy efficient homes with 3, 4, or 5 bedrooms, depending on family size. An 8’ x 10’ outdoor storage shed is also included. Participating in the Habitat program is hard work, but the stability provided by a home is worth it.
You May Qualify!
Elkhart County became a Habitat for Humanity affiliate July 14, 1986. To date, we have built over 160 homes.
The Family Selection Committee looks at three factors when choosing families for participation in the program.
Mortgage payments from Habitat homeowners are recycled into the “Fund for Humanity” to purchase materials for the next Habitat house. Families purchasing a Habitat home help build other families’ houses as well as their own. We are an equal housing lender and do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.
Income Guidelines To qualify, a family’s incomemust meet HUD Income Guidelines below. Number in household
Fast Facts
The average appraised value of a new Elkhart County Habitat home is $95,000.
HUD
Need for better housing For example: living in run down conditions or in a dangerous neighborhood or paying too much for rent. Ability to pay the monthly mortgage Monthly expenses (including long-term debt) must be manageable and family income must meet HUD income guidelines. (See chart) Willingness to partner with Habitat Willingness to complete Sweat Equity hours, make monthly payments on time, and attend Habitat activities.
Chang ing li homeo ves through wnersh ip!
Minimum Income
Maximum Income
One $11,300 $22,560 Two $12,900 $25,740 Three $14,500 $28,980 Four $16,100 $32,160 Five $17,400 $34,740 Six $18,700 $37,320 Seven $20,000 $39,900 Eight $21,300 $42,480