Qualifications for Habitat Homeownership
Thank you for your interest in purchasing a Habitat for Humanity home. Since 1976, Habitat affiliates all over the world have helped 29 million individuals and families achieve strength, stability and self-reliance through shelter. If you dream of becoming a homeowner but haven’t found an affordable way to achieve that dream, we may be able to help.
Habitat homes are not free but they are affordable and low-interest. Each home is newly build or renovated by staff and volunteers to maintain affordability and ensure that homeowners will be purchasing a safe, quality first home. Homeowners work with the affiliates to ensure that they are fully ready for homeownership.
Please review the qualifications for purchasing a Habitat home.
Need for Better Housing
- Inadequate, unsafe or very poor conditions or located in an unsafe area;
- Rent, or contribution currently paid towards rent, exceeds 35% of net income;
- Other factors demonstrating a need for the type of housing Habitat provides.
Applicants will not be approved if they:
- Fall outside HUD approved income guidelines/qualify for traditional financing options.
- Presently own real estate
- Have owned real estate within the last three (3) years.
Willing to Partner with Habitat
- Homebuyers work side by side with volunteers to help build and renovate the place they will call home. Some also work toward this requirement by putting in time at their local Habitat ReStore, while others may serve on committees or help out in their local Habitat office.
- Future homeowners are also required to attend financial education and budget-planning classes for success in homeownership.
Ability to Pay an Affordable Mortgage
- A two-year history of stable income and employment
- Ability to cover closing costs and adjustments as well as a down payment on the house
- Ability to afford anticipated mortgage payment, including property taxes and homeowner’s insurance
- Monthly payments for debt cannot exceed 40% of gross income
- Bankruptcies must have been discharged for at least two (2) years
- Applicants must be U.S. citizens or permanent residents
Every affiliate of Habitat for Humanity follows a non-discriminatory policy of family selection.
Neither race nor religion is a factor in choosing homeowners families.
Office/Mailing Address115 N. Broadway
Schenectady, NY 12305
Habitat ReStore Schenectady115 N. Broadway
Schenectady, NY 12305
Phone: 518.395.3412 ext. 101