How Do I Qualify for an Otsego County Habitat for Humanity House?
Otsego County Habitat for Humanity (OCHFH) builds simple, decent, affordable homes in partnership with those who need a better place to live, who would like to purchase their home but are unable to qualify for a traditional home mortgage. You should be ready to accept the responsibility of being a homeowner.
To be eligible to apply for a Habitat home, you must be a U.S. citizen or a permanent legal resident and cannot already own a home. If you can answer yes to those three questions, you may qualify to own a Habitat home. If it any point you feel that you would not qualify for a Habitat home we may be able to refer you to another program. Please call us at (989) 732-6070.
Please note that when building is completed and an occupancy permit issued, homes are sold NOT given to the partner family. The partner family will pay a monthly mortgage payment that includes taxes and insurance for 20-30 years.
Habitat families are selected based on the three criteria listed below.
1. Ability to Pay (The partner family must meet all of these conditions): ⌂ The Debt-To-Income ratio is 30% / 43% (this is to protect the home buyer so that they will have income to afford other common living expenses after meeting the monthly mortgage obligation). ⌂ Possess solid credit history with satisfactory payment of debts. ⌂ Be able to meet the terms of grant funding, and be able to place a deposit of $500.00 to $1,000.00 on the house. 2. Need (The partner family must meet at least one condition under "Need"): ⌂ You were unable to obtain adequate housing through conventional means of a bank or government loan. ⌂ Your present housing is unsafe, in disrepair, or is not adaptable for disabled persons. ⌂ You cannot already own your home and have no permanent housing and either live in transient housing, with family, friends or in a shelter.
3. Willingness To Partner (The partner family must meet all these conditions): ⌂ Complete an application package. ⌂ Attend all required meetings, workshops and classes. ⌂ All families selected for the program will complete at least 250 hours of volunteer "Sweat Equity" per adult. ⌂ Accept available properties and home design plans. 4. Residency