Qualifications for Homeownership
Basic requirements for applicants:
- Be at least 18 years of age.
- Have a current lease in his/her/their name for at least one year. If an applicant is leasing a property owned by a relative, monthly proof of payment, in addition to standard landlord verification, will be required.
- Have primary Greensboro area residency or permanent employment in the Greensboro area for at least one year (Applicants who live and work in High Point, Trinity and/or Archdale will be referred to that affiliate.)
- Must agree to a criminal background check. Police reports will be obtained and evaluated on all adult applicants.
- Provide evidence of legal separation or divorce (or other legal releases as appropriate) if a spouse is not participating as an applicant.
Prospective new homeowners must show a need for housing.
- Living in overcrowded housing
- Living in substandard housing
- Being a resident of public housing
- Rent and utilities exceed 30% of the household monthly income.
Prospective new homeowners must have the ability to pay for the Habitat home.
- Applicant(s) income must meet minimum requirements and not exceed maximum allowable income (30%-75%) of area median family income (AMI) based on family size for Greensboro, NC, as published annually by HUD.
- Medical Debt: Must not exceed $6,000 and applicant(s) must be actively paying down the balance.
- Collections: Applicants must not have any non-medical collections reported in the 24 months prior to applying. All non-medical collection debt must be paid prior to closing.
- Liens and judgements must be satisfied before an applicant can be approved. In the event a lien or judgement arises after the applicant has been approved, it must be cleared prior to closing. A title/judgement/lien search will be done to verify.
- Bankruptcy: Applicants may apply 4 years after a Chapter 7 or 11 bankruptcy filing, or 2 years after they have received a discharge in a Chapter 13 case.
- Applicant must have been continuously employed for 12 months (which must include 6 months at their current job).
- Must have verifiable earned income plus any non-wage income (if applicable). Any non-wage income (i.e. disability income, SSI, retirement benefits) must be expected to continue for at least 3 years.
- Other requirements not listed here may apply based on each individual applicant.
Willingness to Partner
- Applicants must be willing to become full partners in the construction of Habitat houses for others as well as for themselves.
- Applicants must be willing to perform “sweat equity” hours (250 hours)
- Applicants are required to participate in HHGG homeownership classes. These classes include, but are not limited to, financial management, budgeting, and home maintenance.
- Applicant must adhere to all Habitat policies and procedures (i.e. Sexual Harassment, Does not Discriminate, Safety, Dress Code, etc.).