2020 Homeownership Outreach PPT

Homeownership Program 2020 Application & Selection Information Meeting

What is Habitat’s Homeownership Program?

• An opportunity for low-income individuals to buy a safe, decent, affordable home • Buyers are selected through an application process, then partner with Habitat to build more affordable homes (Sweat Equity) • Homeowner payments are used to create more affordable housing opportunities

How does it work?

• San Gabriel Valley Habitat for Humanity builds, rehabilitates, and recycles single family detached homes, duplexes, condominiums, townhomes, and Accessory Dwelling Units (ADUs) • After completing a set number of Sweat Equity hours, buyers are given three opportunities to select an affordable home to purchase within our service area.

• Monthly payments are never more than 30% of buyers’ income

Where will my new home be? • Applicants selected for the Homeownership Program must be willing to purchase a home within our service area • The requirements may be different for each home (Sweat Equity, cost, household size, City partnership terms, etc.)

Who can buy a Habitat Home?

Anyone can apply for a Habitat Home!

Selection is based on three main criteria: • Need for Adequate Housing • Willingness to Partner With Habitat • Ability to Pay an Affordable Mortgage (income requirements) There are also general eligibility criteria: • Must meet the definition of First Time Homebuyer or Displacement • No bankruptcy in the last 7 years • Are not currently on title or own another home or property

How do I know if I should apply?

You decide if this is the right time, opportunity, or program for you.

Eligibility can only be determined if you apply.

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Every individual and situation is unique

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There are many factors that affect selection

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Eligibility is determined through the application process

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Selection is not guaranteed, but we encourage you to apply

Ok! How do I apply?

Your completed Pre-Application Form must be received in our office before the deadline (postmarks don’t count):

5pm Monday, March 9, 2020 Pre-Applications are available online, at information meetings, and in our office during the outreach and application period only.

Late, incomplete, or illegible pre-applications will not be considered.

How do you select buyers?

• Pre-Applications received in our office before the deadline are separated into Groups of twenty (20) in order of receipt. Applicants are notified of their assigned Group Number • Within ten (10) days, Applicants in Group 1 will receive a update on their application status • Applicants invited to apply will have ten (10) calendar days to provide all required documentation, or seven (7) calendar days to provide clarification information • Additional details and information are in the Pre-Application Packet

The Selection Process: Part 1 During the selection process, San Gabriel Valley Habitat will: • Review the full Application and Documentation information • Obtain credit report for Applicant and Co-Applicant • Credit reports cost approximately $24 per person A Request for Clarification will be sent if additional information or clarification is needed. An initial Eligibility Notice will be sent within thirty (30) days of receipt of all requested documentation.

Applicants who meet income and initial eligibility requirements will continue in the selection process.

The Selection Process: Part 2 After determining income and initial eligibility, San Gabriel Valley Habitat will continue the selection process: • Criminal background and sex offender background checks • Criminal background check costs approximately $22 per person • Verification of employment and tenancy information • Assessment of current housing conditions • Meeting with Applicant and Co-Applicant Applicants continue through the selection process until the application is either approved or denied.

The Selection Process: Final Notification The selection process will repeat for each Group until enough buyers are found for the anticipated number of homes to be built each year.

All Applicants will receive a notice of final application status (approved or denied) Applicants approved for the Habitat Homeownership Program are asked to sign a Partnership Agreement and begin completion of pre-purchase Program requirements.

After the Break: • • • •

Special Housing Opportunities 2020 Review of Pre-Application Form Questions?

Closing & Farewell

Special Homeownership Opportunities in 2020 Baldwin Park Blvd, Baldwin Park • Rehabilitated home available for purchase Spring 2020 • Information and Pre-Applications available at: • All upcoming information meetings • Online at www.sgvhabitat.org • At SGV Habitat’s office in Monrovia • Baldwin Park Community Development / Housing Dept

Special Homeownership Opportunities in 2020 Collegian Avenue, Monterey Park • Rehabilitated home available for purchase Spring 2020 • Information and Pre-Applications available • At all upcoming information meetings • Online at www.sgvhabitat.org • At SGV Habitat’s office in Monrovia • Monterey Park Community Development / Housing Dept

The Pre-Application Form • • • •

Section 1: Applicant Information Section 2: Self-Certifications Statement of Understanding Applicant Signature/s & Date

Questions?

We are happy to explain the questions on the Pre-Application, provide translation, and give referrals to other agencies for additional services.

We cannot answer individual questions about eligibility. Eligibility can only be determined through the application process.

Closing & Farewell • Pre-Application Packets and Information available online at www.sgvhabitat.org • Apply by 5pm Monday, March 9, 2020 • No individual eligibility questions, please • Have a safe drive home!

Thank you for joining us!