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| Apply for a Home
HOW TO APPLY FOR A HOME
- You will be considered for a Habitat for Humanity housing loan if you meet income guidelines and credit guidelines.
- You will be required to openly and fully discuss your financial situation with Habitat personnel. Everything discussed will be held in strict confidentiality.
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Year 200-2010 Guidelines |
| Family Size |
Minimum Monthly Income |
Maximum Monthly Income |
| One |
$1,041 |
$1,737 |
| Two |
$1,192 |
$1,983 |
| Three |
$1,338 |
$2,233 |
| Four |
$1,488 |
$2,479 |
| Five |
$1,608 |
$2,679 |
| Six |
$1,725 |
$2,875 |
| Seven |
$1,846 |
$3,075 |
| Eight |
$1,963 |
$3,271 |
Ability to Pay
You must demonstrate your ability to pay the monthly mortgage payment. This payment will include the mortgage payment, payments for real estate taxes and insurance. HfH-VC will help you determine if the mortgage payment will jeopardize your ability to meet all your other financial obligations and expenses. A family can expect that their mortgage payment will not exceed 32% of the household monthly income. The family will be expected to save for closing costs of about $500.00.
Requirements:
Income: Sustainable income of 3 years on job or disability income, SSI, pension, child support, etc.
Credit: Good credit history with no serious delinquencies or bankruptcies within the past 3-years.
Your ability to "partner" with HfH-VC and provide 300 hours of sweat equity in the building of your home. This includes a 13-week financial training class.
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Habitat for Humanity of Valencia County pledges to the letter and spirit of U.S. and N.M. policies for the achievement of equal housing. We do not eliminate applicants or discriminate because of race, color, religion, gender, sexual orientation, handicap, family status, ethnicity, national origin, or public assistance as a source of income.
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