1. How much does a Habitat house cost? How much are the monthly payments?
The homes cost approximately $100,000 to $133,000. The down payment is about $1,500. The monthly mortgage payments are calculated at 30% of your total family income, or about $650, whichever is greater. The mortgage payment will include taxes, insurance, garbage fee, and homeowner association fees, if applicable.
2. How much does it cost to apply for a Habitat home?
A $25 nonrefundable money order (no cash or check) must be submitted with the application.
3. How much interest do you charge on a Habitat home?
Habitat sells the homes at no profit and with 0% (zero percent) interest on the mortgage.
4. Can I apply as a single applicant if I am still legally married but living separately from my spouse?
No. If you are legally married, Habitat requires that both spouses be part of the application and apply as co-applicants.
5. Can I apply for my children or other family members if they live in another county?
No. All applicants must live in Miami-Dade, Broward, or Monroe County.
6. Can I apply if I have filed bankruptcy?
Yes, but the bankruptcy has to have been filed two or more years prior. Also, there must be satisfactory management of any bankruptcy filed.
7. Do I have to be a US citizen to apply?
To apply you must be a US citizen/resident, or be married to one.
8. What kind of income do I need to qualify?
The maximum income levels are on the website http://www.miamihabitat.org/family-selection-criteria : Minimum qualifying incomes will be considered on a case-by-case basis, but will be roughly $21,000.00 annual household income.
9. How do I verify my income if I get paid in cash?
In order to verify cash income, you must deposit earnings into the same bank account each time you get paid. The cash income must be reported on your IRS Form 1040 when you file taxes. This sort of documentation will make it possible to verify your income.
10. Do I have to have a job to become a Habitat homeowner?
Habitat requires that you receive enough income, through work or disability payments, to be able to use no more than 40% of your total monthly income to pay both the monthly Habitat mortgage payments and other debt obligations.
11. Does Habitat require a certain score on a credit report?
Habitat does not use credit scores as a basis for creditworthiness. We look at good debt and bad debt levels. “Good debt” is an account that is being paid on time; “bad debt” is an account that has gone to collections. In order to apply, your good debt must be low, and your bad debt must be less than $1,500.
12. If my credit is good, but my co-applicant’s credit is not, can I apply?
Both applicants’ credit will be subject to the same criteria.
13. Do I have to help in the construction of the house?
Yes. If selected, you will be required to work one full 8-hour day per week until the house is completed, which normally takes about 4-6 months. This is what we call “sweat equity.” A single applicant will need to put in a minimum of 250 hours of sweat equity, while two applicants will work a minimum of 300 hours.
14. Do I have to know anything about construction?
No. We will teach you and provide expert supervision.
15. How are homeowners selected?
A family selection committee reviews all applicants and follows a non-discriminatory selection process. Homeowner selection is made without regard to race, gender, age, religion, ethnicity, marital status, national origin, disability, color, sexual orientation, or any other legally protected
16. Where can I get an application?
You can download the homeowner application here. Or, you can attend a homeowner information meeting at pick up an application there. Once you’ve completed it, mail it to the address at the top of the application with the $25 money order and copies of all the required documents listed at the bottom of page 4. Please do not send originals, as documents will not be returned.
17. How long will it take to process my application?
Depending on how accurately the application is completed, processing time can take anywhere from 2 to 4 weeks
McKenzie N. Moore Jr.
Community Outreach Coordinator
3800 NW 22nd Ave., Miami, FL 33142
Ph: (305) 634-3628 Cell: (305) 608-4459
Fax: (305) 638-4917
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There is more to overtown then this, I live in st.agnes homes aka skittles,lol and I see a great future for overtown
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All Content Copyright 2011 by Charles "Stretch" Ledford