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QUALIFICATIONS FOR HOMEOWNERSHIP
NEED
Applications are considered if present housing is overcrowded, in poor repair, or under a subsidized rental program.
Applicant must also be a first-time homebuyer.
INCOME
As of April 2008, total dependable & documented income from all sources must be in the range of:
| Family Size |
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
| Minimum Income |
22,200
|
24,000 |
24,000 |
26,000 |
28,000 |
30,200 |
32,200 |
34,300 |
| Maximum Income |
22,800
|
26,050
|
29,300
|
32,050
|
34,600
|
37,200
|
39,750
|
42,300
|
CREDIT HISTORY
All collections and judgments must be satisfied
(paid off/zero balances). Loan and credit payments must be paid on time. Applicants who have filed for bankruptcy must be at least one year past discharge and have good credit reestablished.
SWEAT EQUITY
Applicants must be willing to be a partner with Habitat by working at least 400 hours of "sweat equity" with the staff and volunteers on their own home or other Habitat projects.
RESIDENCY
Applicants must currently live or work in Hampton, James City County, Newport News, Poquoson, Williamsburg, or York County for at least one year.
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